Brown Brothers Harriman & Co. Buys 121 Shares of Veeva Systems Inc. (NYSE:VEEV)

Brown Brothers Harriman & Co. raised its position in Veeva Systems Inc. (NYSE:VEEV) by 24.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 621 shares of the technology company’s stock after purchasing an additional 121 shares during the period. Brown Brothers Harriman & Co.’s holdings in Veeva Systems were worth $130,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of VEEV. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the 3rd quarter valued at $26,000. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the first quarter valued at $28,000. Blue Trust Inc. raised its position in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC purchased a new stake in shares of Veeva Systems during the second quarter worth $35,000. Finally, Mather Group LLC. boosted its stake in Veeva Systems by 166.3% in the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $226.76 on Friday. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68. The business’s 50 day simple moving average is $215.45 and its two-hundred day simple moving average is $201.83. The stock has a market capitalization of $36.72 billion, a P/E ratio of 60.47, a price-to-earnings-growth ratio of 2.19 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Sell-side analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Bank of America raised their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Robert W. Baird reduced their price target on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. Guggenheim increased their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a research report on Friday, November 8th. Finally, BNP Paribas began coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.92.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.50% of the company’s stock.

Veeva Systems Profile

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.