APG Asset Management N.V. grew its position in shares of Veeva Systems Inc (NYSE:VEEV) by 124.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,100 shares of the technology company’s stock after purchasing an additional 20,600 shares during the period. APG Asset Management N.V.’s holdings in Veeva Systems were worth $1,708,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Cerebellum GP LLC bought a new stake in shares of Veeva Systems in the 4th quarter valued at about $129,000. 1st Global Advisors Inc. bought a new stake in shares of Veeva Systems in the 2nd quarter valued at about $200,000. Nordea Investment Management AB bought a new stake in shares of Veeva Systems in the 2nd quarter valued at about $208,000. Oakbrook Investments LLC bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $203,000. Finally, Van Hulzen Asset Management LLC bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $204,000. 69.89% of the stock is owned by hedge funds and other institutional investors.
VEEV has been the subject of a number of recent research reports. Zacks Investment Research lowered Veeva Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. BidaskClub upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, October 20th. Canaccord Genuity reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a report on Wednesday, December 6th. Morgan Stanley upgraded Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. Finally, DA Davidson started coverage on Veeva Systems in a report on Friday, February 2nd. They set a “buy” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Veeva Systems presently has an average rating of “Buy” and a consensus price target of $67.54.
In other news, EVP Alan Mateo sold 532 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $58.11, for a total transaction of $30,914.52. Following the completion of the transaction, the executive vice president now owns 8,294 shares in the company, valued at $481,964.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Matthew J. Wallach sold 24,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $57.36, for a total value of $1,376,640.00. Following the transaction, the president now owns 24,000 shares of the company’s stock, valued at approximately $1,376,640. The disclosure for this sale can be found here. Insiders sold a total of 166,417 shares of company stock valued at $9,502,103 in the last quarter. 19.17% of the stock is currently owned by company insiders.
Veeva Systems Inc (VEEV) opened at $57.90 on Thursday. The firm has a market capitalization of $8,042.42, a price-to-earnings ratio of 67.33, a PEG ratio of 5.87 and a beta of 1.66. Veeva Systems Inc has a twelve month low of $41.30 and a twelve month high of $68.07.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.09. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The firm had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. During the same period in the prior year, the firm earned $0.22 EPS. The company’s revenue was up 23.3% compared to the same quarter last year. equities analysts anticipate that Veeva Systems Inc will post 0.68 EPS for the current year.
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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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