Epoch Investment Partners Inc. Has $70.28 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Epoch Investment Partners Inc. decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 28.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 384,024 shares of the technology company's stock after selling 153,305 shares during the quarter. Epoch Investment Partners Inc. owned about 0.24% of Veeva Systems worth $70,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Veeva Systems by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 280,098 shares of the technology company's stock valued at $53,926,000 after purchasing an additional 14,062 shares during the last quarter. UBS Group AG raised its position in shares of Veeva Systems by 52.6% in the 4th quarter. UBS Group AG now owns 174,337 shares of the technology company's stock valued at $33,563,000 after acquiring an additional 60,109 shares during the period. Coldstream Capital Management Inc. bought a new position in Veeva Systems during the 4th quarter worth approximately $311,000. Wells Fargo & Company MN grew its holdings in Veeva Systems by 42.2% during the fourth quarter. Wells Fargo & Company MN now owns 147,951 shares of the technology company's stock valued at $28,484,000 after purchasing an additional 43,909 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Veeva Systems by 1.1% during the fourth quarter. Clearbridge Investments LLC now owns 11,741 shares of the technology company's stock valued at $2,260,000 after purchasing an additional 123 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded down $3.84 during midday trading on Monday, reaching $211.04. The company's stock had a trading volume of 953,558 shares, compared to its average volume of 973,791. The business's 50 day moving average price is $199.76 and its two-hundred day moving average price is $201.29. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The company has a market cap of $34.12 billion, a P/E ratio of 62.25, a P/E/G ratio of 2.12 and a beta of 0.81.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.03. The company had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Sell-side analysts forecast that Veeva Systems Inc. will post 4.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VEEV shares. Guggenheim boosted their target price on Veeva Systems from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. Morgan Stanley lowered their target price on Veeva Systems from $210.00 to $173.00 and set an "underweight" rating for the company in a research note on Friday, May 31st. BTIG Research began coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They issued a "buy" rating and a $240.00 price target on the stock. Truist Financial upped their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the company a "hold" rating in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $229.96.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares of the company's stock, valued at approximately $1,807,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Company 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.