Castleark Management LLC trimmed its stake in Veeva Systems Inc (NYSE:VEEV) by 22.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 378,680 shares of the technology company’s stock after selling 106,981 shares during the period. Castleark Management LLC owned 0.27% of Veeva Systems worth $20,933,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. LPL Financial LLC increased its stake in Veeva Systems by 5.8% during the 4th quarter. LPL Financial LLC now owns 20,166 shares of the technology company’s stock valued at $1,115,000 after purchasing an additional 1,111 shares in the last quarter. Raymond James & Associates grew its stake in shares of Veeva Systems by 28.6% in the fourth quarter. Raymond James & Associates now owns 66,143 shares of the technology company’s stock worth $3,656,000 after acquiring an additional 14,717 shares during the period. Virtue Capital Management LLC bought a new stake in shares of Veeva Systems in the fourth quarter worth approximately $395,000. Fred Alger Management Inc. grew its stake in shares of Veeva Systems by 9.1% in the fourth quarter. Fred Alger Management Inc. now owns 1,024,930 shares of the technology company’s stock worth $56,658,000 after acquiring an additional 85,781 shares during the period. Finally, Bamco Inc. NY grew its stake in shares of Veeva Systems by 767.9% in the fourth quarter. Bamco Inc. NY now owns 424,253 shares of the technology company’s stock worth $23,453,000 after acquiring an additional 375,371 shares during the period. 73.09% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 30th. DA Davidson assumed coverage on shares of Veeva Systems in a research report on Friday, February 2nd. They set a “buy” rating and a $75.00 target price for the company. Zacks Investment Research downgraded shares of Veeva Systems from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Vetr raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price target on the stock in a report on Thursday, February 8th. Finally, William Blair reissued an “outperform” rating on shares of Veeva Systems in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $72.23.
Shares of NYSE VEEV traded down $1.90 during mid-day trading on Friday, reaching $70.92. The company had a trading volume of 602,469 shares, compared to its average volume of 1,130,004. The stock has a market cap of $10,292.60, a PE ratio of 77.09, a PEG ratio of 4.38 and a beta of 1.39. Veeva Systems Inc has a 52 week low of $50.09 and a 52 week high of $78.28.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. Veeva Systems had a net margin of 20.71% and a return on equity of 11.89%. The firm had revenue of $184.92 million for the quarter, compared to analysts’ expectations of $180.13 million. research analysts forecast that Veeva Systems Inc will post 0.98 earnings per share for the current year.
In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 49,793 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $77.28, for a total transaction of $3,848,003.04. Following the completion of the sale, the insider now directly owns 12,398 shares of the company’s stock, valued at $958,117.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Frederic Lequient sold 15,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.00, for a total transaction of $930,000.00. Following the sale, the senior vice president now directly owns 15,000 shares of the company’s stock, valued at $930,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,831 shares of company stock valued at $14,833,602. 19.17% of the stock is owned by insiders.
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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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