Nisa Investment Advisors LLC trimmed its position in shares of Veeva Systems Inc (NYSE:VEEV) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,912 shares of the technology company’s stock after selling 5,854 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Veeva Systems were worth $1,045,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Comerica Bank grew its stake in Veeva Systems by 14.0% in the 2nd quarter. Comerica Bank now owns 4,339 shares of the technology company’s stock valued at $285,000 after purchasing an additional 534 shares during the period. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 9.1% during the 2nd quarter. Principal Financial Group Inc. now owns 20,150 shares of the technology company’s stock worth $1,235,000 after acquiring an additional 1,688 shares during the period. Alliancebernstein L.P. grew its stake in shares of Veeva Systems by 9.7% during the 2nd quarter. Alliancebernstein L.P. now owns 59,951 shares of the technology company’s stock worth $3,676,000 after acquiring an additional 5,320 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Veeva Systems by 19.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 326,959 shares of the technology company’s stock worth $20,045,000 after acquiring an additional 54,304 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Veeva Systems by 44.9% during the 2nd quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock worth $356,379,000 after acquiring an additional 1,801,439 shares during the period. 69.89% of the stock is owned by institutional investors and hedge funds.
Veeva Systems Inc (VEEV) traded up $1.00 during trading hours on Wednesday, hitting $57.90. The company’s stock had a trading volume of 1,080,000 shares, compared to its average volume of 1,030,000. Veeva Systems Inc has a 1 year low of $41.30 and a 1 year high of $68.07. The stock has a market cap of $8,180.00, a PE ratio of 63.63, a P/E/G ratio of 5.85 and a beta of 1.66.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.09. The company had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. Veeva Systems’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. equities analysts forecast that Veeva Systems Inc will post 0.68 earnings per share for the current year.
In related news, President Matthew J. Wallach sold 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $57.20, for a total transaction of $1,372,800.00. Following the transaction, the president now directly owns 24,000 shares in the company, valued at approximately $1,372,800. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $55.74, for a total value of $2,787,000.00. Following the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $2,787,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,017 shares of company stock worth $10,085,015. 17.50% of the stock is currently owned by insiders.
VEEV has been the subject of several research reports. Morgan Stanley upgraded Veeva Systems from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 30th. BidaskClub upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. Zacks Investment Research cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. DA Davidson began coverage on Veeva Systems in a report on Friday, February 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $67.54.
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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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