Schwab Charles Investment Management Inc. increased its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,354 shares of the technology company’s stock after buying an additional 35,626 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.26% of Veeva Systems worth $20,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Oakbrook Investments LLC purchased a new position in Veeva Systems during the 3rd quarter worth $203,000. Van Hulzen Asset Management LLC purchased a new position in Veeva Systems during the 3rd quarter worth $204,000. Flagship Harbor Advisors LLC grew its stake in Veeva Systems by 26.8% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,226 shares of the technology company’s stock worth $248,000 after buying an additional 893 shares during the last quarter. Toronto Dominion Bank grew its stake in Veeva Systems by 246.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,536 shares of the technology company’s stock worth $256,000 after buying an additional 3,225 shares during the last quarter. Finally, Strategic Advisors LLC purchased a new position in Veeva Systems during the 4th quarter worth $292,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.
Several research analysts recently weighed in on the company. Vetr downgraded Veeva Systems from a “buy” rating to a “hold” rating and set a $61.05 target price on the stock. in a research note on Thursday, February 15th. DA Davidson started coverage on Veeva Systems in a research note on Friday, February 2nd. They set a “buy” rating and a $75.00 price target on the stock. Zacks Investment Research downgraded Veeva Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Morgan Stanley upgraded Veeva Systems from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 30th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a research note on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $67.54.
Shares of Veeva Systems Inc (NYSE VEEV) opened at $59.76 on Tuesday. The firm has a market capitalization of $8,450.00, a PE ratio of 65.67, a price-to-earnings-growth ratio of 6.17 and a beta of 1.66. Veeva Systems Inc has a one year low of $41.30 and a one year high of $68.07.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The business had revenue of $176.10 million during 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%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. analysts expect that Veeva Systems Inc will post 0.68 earnings per share for the current year.
In other news, CFO Timothy S. Cabral sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 50,000 shares of the company’s stock, valued at approximately $2,787,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alan Mateo sold 532 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $58.11, for a total value of $30,914.52. Following the completion of the transaction, the executive vice president now directly owns 8,294 shares of the company’s stock, valued at approximately $481,964.34. The disclosure for this sale can be found here. In the last three months, insiders sold 166,417 shares of company stock valued at $9,502,103. Insiders own 17.50% of the company’s stock.
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Veeva Systems Company 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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