Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 67.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 57,203 shares of the technology company’s stock after buying an additional 23,032 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Veeva Systems were worth $11,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $25,000. Operose Advisors LLC acquired a new stake in Veeva Systems in the third quarter worth $29,000. Resurgent Financial Advisors LLC bought a new stake in Veeva Systems in the fourth quarter valued at $33,000. Parkside Financial Bank & Trust boosted its holdings in shares of Veeva Systems by 81.9% during the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after acquiring an additional 77 shares during the period. Finally, Atticus Wealth Management LLC grew its position in shares of Veeva Systems by 500.0% during the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas D. Schwenger sold 1,238 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the sale, the chief operating officer now directly owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The disclosure for this sale can be found here. Insiders sold a total of 19,836 shares of company stock valued at $4,396,902 in the last three months. 10.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Jefferies Financial Group lifted their price target on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 4th. The Goldman Sachs Group boosted their price objective on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, April 2nd. Finally, UBS Group boosted their price target on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $234.90.

Veeva Systems Trading Down 0.6 %

NYSE:VEEV opened at $198.37 on Friday. The company has a 50-day moving average of $221.17 and a 200-day moving average of $202.80. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90. The firm has a market cap of $32.00 billion, a price-to-earnings ratio of 61.61, a price-to-earnings-growth ratio of 2.02 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The firm had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. On average, research analysts forecast that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.