GWM Advisors LLC purchased a new stake in Veeva Systems Inc (NYSE:VEEV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,050 shares of the technology company’s stock, valued at approximately $441,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in VEEV. Winslow Capital Management LLC bought a new position in shares of Veeva Systems in the 2nd quarter valued at about $131,215,000. FMR LLC grew its holdings in shares of Veeva Systems by 38.7% in the 2nd quarter. FMR LLC now owns 3,274,017 shares of the technology company’s stock valued at $251,641,000 after acquiring an additional 914,357 shares in the last quarter. Morgan Stanley grew its holdings in shares of Veeva Systems by 4.5% in the 2nd quarter. Morgan Stanley now owns 13,129,295 shares of the technology company’s stock valued at $1,009,118,000 after acquiring an additional 565,589 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Veeva Systems by 24.2% in the 2nd quarter. First Trust Advisors LP now owns 2,553,247 shares of the technology company’s stock valued at $196,243,000 after acquiring an additional 497,318 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in shares of Veeva Systems by 2,735.0% in the 2nd quarter. United Services Automobile Association now owns 509,924 shares of the technology company’s stock valued at $43,808,000 after acquiring an additional 491,937 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.
Veeva Systems stock opened at $92.23 on Monday. Veeva Systems Inc has a 52 week low of $52.17 and a 52 week high of $109.05. The stock has a market cap of $13.23 billion, a P/E ratio of 100.25, a price-to-earnings-growth ratio of 4.34 and a beta of 1.64.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, August 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.05. The firm had revenue of $209.60 million during the quarter, compared to the consensus estimate of $203.50 million. Veeva Systems had a net margin of 21.23% and a return on equity of 13.58%. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. On average, analysts forecast that Veeva Systems Inc will post 1.1 EPS for the current fiscal year.
A number of equities analysts recently commented on VEEV shares. Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Tuesday, July 17th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target (up previously from $90.00) on shares of Veeva Systems in a report on Friday, August 24th. DA Davidson lifted their price target on Veeva Systems to $105.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Canaccord Genuity lifted their price target on Veeva Systems from $85.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 24th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their price target on Veeva Systems from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $99.07.
In other Veeva Systems news, EVP Alan Mateo sold 555 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $103.52, for a total transaction of $57,453.60. Following the completion of the sale, the executive vice president now directly owns 13,147 shares in the company, valued at $1,360,977.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Matthew J. Wallach sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $84.57, for a total transaction of $1,014,840.00. Following the sale, the president now owns 12,000 shares of the company’s stock, valued at $1,014,840. The disclosure for this sale can be found here. Insiders have sold 172,476 shares of company stock valued at $16,528,424 over the last 90 days. Company insiders own 15.97% of the company’s stock.
Veeva Systems Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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