Noteworthy SEC Filing: Veeva Systems Inc Has Another Bullish Trade, Jpmorgan Chase & Co Bought Stake!

Noteworthy SEC Filing: Veeva Systems Inc Has Another Bullish Trade, Jpmorgan Chase & Co Bought Stake!

The New Jpmorgan Chase & Co Holding in Veeva Systems Inc

Jpmorgan Chase & Co filed with the SEC SC 13G/A form for Veeva Systems Inc. The form can be accessed here: 000001961716001209. As reported in Jpmorgan Chase & Co’s form, the filler as of late owns 3.9% or 3,961,295 shares of the Information Technology–company.

Veeva Systems Inc stake is a new one for the for this institutional investor and it was filed because of activity on October 31, 2016. We feel this shows Jpmorgan Chase & Co’s positive view for the stock.

Veeva Systems Inc Institutional Sentiment

Latest Security and Exchange filings show 151 investors own Veeva Systems Inc. The institutional ownership in Q3 2015 is high, at 70.56% of the outstanding shares. This is decreased by 791041 the total institutional shares. 71409898 were the shares owned by these institutional investors. In total 20 funds opened new Veeva Systems Inc stakes, 70 increased stakes. There were 26 that closed positions and 44 reduced them.

Glynn Capital Management Llc is an institutional investor bullish on Veeva Systems Inc, owning 230470 shares as of Q3 2015 for 1.78% of its portfolio. Emerald Advisers Inc owns 903405 shares or 1.10% of its portfolio. CA Avalon Global Asset Management Llc have 2.43% of their stock portfolio for 144000 shares. Further, Emerald Mutual Fund Advisers Trust reported stake worth 1.30% of its US stock portfolio. The CA Scge Management Lp owns 1400000 shares. Veeva Systems Inc is 5.30% of the manager’s US portfolio.

Business Profile

Veeva Systems Inc. (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data. The Company offers solutions to areas, including the Veeva CRM family of applications for multichannel customer relationship management to enable coordinated and personalized customer engagement through multiple touch points; Veeva Vault for regulated content management and information management solutions to enable the management of content-centric processes; the Veeva Network master data management solutions for the management of customer master and product master data, and Veeva’s data and data services offerings, including Veeva OpenData for customer reference data and Veeva KOL Data for data.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Insitutional Activity: The institutional sentiment increased to 1.79 in 2016 Q2. Its up 0.61, from 1.18 in 2016Q1. The ratio is positive, as 18 funds sold all Veeva Systems Inc shares owned while 50 reduced positions. 48 funds bought stakes while 74 increased positions. They now own 92.06 million shares or 3.74% more from 88.74 million shares in 2016Q1.

Sei Investments has 498 shares for 0% of their US portfolio. Commonwealth Equity Serv Inc accumulated 0.01% or 49,553 shares. Susquehanna Intll Ltd Liability Partnership holds 7,784 shares or 0% of its portfolio. Fmr, a Massachusetts-based fund reported 670,623 shares. The Netherlands-based Delta Lloyd Nv has invested 0.03% in Veeva Systems Inc (NYSE:VEEV). 1832 Asset L P owns 1.27 million shares or 0.17% of their US portfolio. Babson Capital Lc, a Massachusetts-based fund reported 18,400 shares. Us Natl Bank De has invested 0% of its portfolio in Veeva Systems Inc (NYSE:VEEV). Jacobs Levy Equity Mgmt holds 166,141 shares or 0.12% of its portfolio. Moreover, Schwab Charles Management Inc has 0.01% invested in Veeva Systems Inc (NYSE:VEEV) for 280,773 shares. Wealthtrust reported 399 shares or 0.01% of all its holdings. Telemus Cap accumulated 0.1% or 23,927 shares. Trexquant Inv Ltd Partnership holds 10,288 shares or 0.05% of its portfolio. Blackrock Fund Advsr last reported 873,419 shares in the company. Secor Capital Advsrs Limited Partnership holds 0.21% or 48,065 shares in its portfolio.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 33 selling transactions for $32.12 million net activity. 42,441 shares were sold by Cabral Timothy S, worth $1.76 million. On Thursday, October 13 Wallach Matthew J sold $3.19M worth of the stock or 84,000 shares. $19,135 worth of Veeva Systems Inc (NYSE:VEEV) was sold by Faddis Jonathan on Wednesday, November 2. Another trade for 3,092 shares valued at $119,788 was sold by Lequient Frederic. Ritter Gordon had sold 44,800 shares worth $1.67M on Monday, July 11. CODD RONALD E F sold 2,000 shares worth $80,620. On Thursday, September 1 the insider Zuppas Eleni Nitsa sold $37,949.

About 415,477 shares traded hands. Veeva Systems Inc (NYSE:VEEV) has risen 49.10% since April 6, 2016 and is uptrending. It has outperformed by 45.96% the S&P500.

Veeva Systems Inc. is a provider of cloud software solutions for the global life sciences industry. The company has a market cap of $5.45 billion. The Firm offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data. It has a 99.46 P/E ratio.

Veeva Systems Inc (NYSE:VEEV) Ratings Coverage

Out of 13 analysts covering Veeva Systems (NYSE:VEEV), 6 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 46% are positive. $45 is the highest target while $24 is the lowest. The $36.30 average target is -5.74% below today’s ($38.51) stock price. Veeva Systems has been the topic of 24 analyst reports since August 28, 2015 according to StockzIntelligence Inc. On Monday, January 4 the stock rating was initiated by Needham with “Buy”. Canaccord Genuity maintained Veeva Systems Inc (NYSE:VEEV) rating on Wednesday, November 25. Canaccord Genuity has “Buy” rating and $35 price target. As per Friday, May 27, the company rating was maintained by JP Morgan. Deutsche Bank maintained it with “Hold” rating and $28 target price in Wednesday, November 25 report. Needham maintained the stock with “Buy” rating in Wednesday, August 31 report. Citigroup maintained Veeva Systems Inc (NYSE:VEEV) rating on Friday, May 27. Citigroup has “Neutral” rating and $31 price target. The stock has “Neutral” rating given by Citigroup on Tuesday, August 23. Stifel Nicolaus maintained Veeva Systems Inc (NYSE:VEEV) on Friday, May 27 with “Buy” rating. The firm earned “Neutral” rating on Tuesday, October 4 by Goldman Sachs. The stock has “Neutral” rating given by Citigroup on Friday, October 30.

Another recent and important Veeva Systems Inc (NYSE:VEEV) news was published by Fool.com which published an article titled: “Veeva Systems Inc. Spoils Shareholders Once Again With a Great Quarter” on August 31, 2016.

According to Zacks Investment Research, “Veeva Systems Inc. operates as a provider of industry-specific, cloud-based software solutions for the life sciences industry. It offers enterprise applications, a multichannel platform, customer relationship management, and content management solutions. The Company provides its solutions to pharmaceutical, animal health, and biotechnology companies. Veeva Systems Inc. is headquartered in Pleasanton, California.”

VEEV Company Profile

Veeva Systems Inc. (Veeva), incorporated on January 12, 2007, is a well-known provider of cloud software solutions for the global life sciences industry. The Firm offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data. The Firm offers solutions to areas, including the Veeva CRM family of applications for multichannel customer relationship management to enable coordinated and personalized customer engagement through multiple touch points; Veeva Vault for regulated content management and information management solutions to enable the management of content-centric processes; the Veeva Network master data management solutions for the management of customer master and product master data, and Veeva’s data and data services offerings, including Veeva OpenData for customer reference data and Veeva KOL Data for data.

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