Fiera Capital Corp Has $84.51 Million Holdings in Veeva Systems Inc. $VEEV

Fiera Capital Corp lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 20.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 283,685 shares of the technology company’s stock after selling 74,314 shares during the period. Fiera Capital Corp’s holdings in Veeva Systems were worth $84,513,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Veeva Systems by 3.1% during the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock worth $4,596,522,000 after purchasing an additional 457,806 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Veeva Systems by 3.7% in the second quarter. Alliancebernstein L.P. now owns 5,705,648 shares of the technology company’s stock worth $1,643,113,000 after buying an additional 205,997 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock worth $1,146,040,000 after buying an additional 388,864 shares during the period. JPMorgan Chase & Co. grew its stake in Veeva Systems by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock valued at $1,035,622,000 after buying an additional 159,984 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Veeva Systems by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,092,539 shares of the technology company’s stock worth $888,108,000 after acquiring an additional 114,003 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

VEEV opened at $182.41 on Friday. Veeva Systems Inc. has a fifty-two week low of $168.13 and a fifty-two week high of $310.50. The firm’s fifty day moving average price is $211.84 and its two-hundred day moving average price is $254.82. The company has a market capitalization of $29.98 billion, a P/E ratio of 35.49, a P/E/G ratio of 1.25 and a beta of 1.08.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The company had revenue of $0.81 million during the quarter, compared to analysts’ expectations of $792.37 million. During the same quarter in the prior year, the company posted $1.75 EPS. The business’s revenue was up 16.0% on a year-over-year basis. On average, equities research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems declared that its board has approved a stock buyback program on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VEEV shares. KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a report on Friday, December 12th. Wells Fargo & Company decreased their target price on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Morgan Stanley raised Veeva Systems from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $222.00 to $205.00 in a research report on Tuesday. UBS Group reduced their price objective on Veeva Systems from $310.00 to $280.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Finally, Canaccord Genuity Group restated a “buy” rating on shares of Veeva Systems in a research note on Tuesday, November 25th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $307.33.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the transaction, the insider owned 23,204 shares in the company, valued at $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.30% of the stock is owned by company insiders.

Veeva Systems Company Profile

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.