Raymond James Financial Services Advisors Inc. purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,319 shares of the technology company’s stock, valued at approximately $1,001,000.
Several other institutional investors have also made changes to their positions in VEEV. ETF Managers Group LLC purchased a new stake in Veeva Systems in the second quarter valued at approximately $101,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Veeva Systems during the second quarter worth $102,000. LS Investment Advisors LLC acquired a new position in shares of Veeva Systems during the second quarter worth $105,000. Huntington National Bank grew its stake in shares of Veeva Systems by 10.6% during the second quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock worth $164,000 after purchasing an additional 256 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. grew its stake in shares of Veeva Systems by 460.0% during the second quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock worth $172,000 after purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
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Several brokerages have recently weighed in on VEEV. Canaccord Genuity reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Tuesday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Veeva Systems in a report on Thursday, October 12th. KeyCorp reiterated a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a report on Friday, August 25th. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 target price on shares of Veeva Systems in a research note on Friday, October 13th. Finally, Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Wednesday, October 11th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $65.75.
Veeva Systems Inc. (NYSE VEEV) traded up $0.89 during trading on Friday, reaching $61.47. 1,390,100 shares of the company’s stock were exchanged, compared to its average volume of 1,321,534. Veeva Systems Inc. has a 52-week low of $39.10 and a 52-week high of $68.07. The firm has a market cap of $8,402.45, a price-to-earnings ratio of 102.68, a price-to-earnings-growth ratio of 4.96 and a beta of 1.64.
Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The business had revenue of $166.59 million for the quarter, compared to the consensus estimate of $164.26 million. During the same period in the previous year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. sell-side analysts expect that Veeva Systems Inc. will post 0.65 EPS for the current year.
In other Veeva Systems news, CFO Timothy S. Cabral sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $58.82, for a total value of $2,352,800.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $1,764,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy S. Cabral sold 8,750 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $57.24, for a total transaction of $500,850.00. The disclosure for this sale can be found here. Insiders have sold 274,725 shares of company stock worth $15,894,780 in the last 90 days. 19.17% of the stock is owned by company insiders.
About Veeva Systems
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.
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