California State Teachers Retirement System lessened its holdings in Veeva Systems Inc (NYSE:VEEV) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,357 shares of the technology company’s stock after selling 16,132 shares during the quarter. California State Teachers Retirement System owned 0.13% of Veeva Systems worth $10,118,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Stifel Financial Corp increased its holdings in Veeva Systems by 18.2% in the 3rd quarter. Stifel Financial Corp now owns 117,663 shares of the technology company’s stock valued at $6,647,000 after buying an additional 18,115 shares during the period. Pinebridge Investments L.P. bought a new stake in shares of Veeva Systems in the 3rd quarter worth about $2,737,000. KBC Group NV grew its holdings in shares of Veeva Systems by 63.0% in the 3rd quarter. KBC Group NV now owns 17,336 shares of the technology company’s stock worth $978,000 after purchasing an additional 6,698 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Veeva Systems by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 295,438 shares of the technology company’s stock worth $16,666,000 after purchasing an additional 3,530 shares during the last quarter. Finally, Ithaka Group LLC grew its holdings in shares of Veeva Systems by 33.3% in the 3rd quarter. Ithaka Group LLC now owns 163,897 shares of the technology company’s stock worth $9,245,000 after purchasing an additional 40,985 shares during the last quarter. 70.90% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Paul J. Sekhri sold 10,971 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $53.83, for a total value of $590,568.93. Following the completion of the transaction, the director now directly owns 27,438 shares of the company’s stock, valued at $1,476,987.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Matthew J. Wallach sold 24,000 shares of the firm’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $59.59, for a total transaction of $1,430,160.00. The disclosure for this sale can be found here. Insiders have sold a total of 188,929 shares of company stock worth $10,945,440 over the last 90 days. Corporate insiders own 17.50% of the company’s stock.
Shares of Veeva Systems Inc (NYSE:VEEV) traded down $0.52 during trading hours on Wednesday, hitting $57.51. 567,857 shares of the company were exchanged, compared to its average volume of 917,117. The firm has a market cap of $8,070.00, a P/E ratio of 63.20, a price-to-earnings-growth ratio of 4.66 and a beta of 1.60. Veeva Systems Inc has a 1-year low of $41.30 and a 1-year high of $68.07.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. The business had revenue of $176.10 million for the quarter, compared to the consensus estimate of $171.99 million. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. Veeva Systems’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. analysts forecast that Veeva Systems Inc will post 0.68 EPS for the current year.
A number of brokerages have commented on VEEV. Canaccord Genuity reissued a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a report on Wednesday, December 6th. BidaskClub lowered shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Wednesday, October 11th. Stifel Nicolaus reissued a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a report on Friday, October 13th. Finally, Needham & Company LLC restated a “buy” rating on shares of Veeva Systems in a research report on Thursday, October 12th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $67.45.
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Veeva Systems 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.
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