Regentatlantic Capital LLC Purchases New Position in Veeva Systems Inc (NYSE:VEEV)

Regentatlantic Capital LLC purchased a new stake in Veeva Systems Inc (NYSE:VEEV) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,880 shares of the technology company’s stock, valued at approximately $305,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Veeva Systems by 7.8% during the first quarter. BlackRock Inc. now owns 7,538,880 shares of the technology company’s stock valued at $956,382,000 after acquiring an additional 547,246 shares in the last quarter. FMR LLC grew its stake in shares of Veeva Systems by 5.8% during the first quarter. FMR LLC now owns 6,269,463 shares of the technology company’s stock valued at $795,344,000 after acquiring an additional 342,948 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Veeva Systems by 15.9% during the fourth quarter. Geode Capital Management LLC now owns 1,307,248 shares of the technology company’s stock valued at $116,693,000 after acquiring an additional 179,262 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Veeva Systems by 2.4% during the first quarter. Champlain Investment Partners LLC now owns 1,187,335 shares of the technology company’s stock valued at $150,625,000 after acquiring an additional 28,335 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Veeva Systems by 7.8% during the first quarter. Northern Trust Corp now owns 866,620 shares of the technology company’s stock valued at $109,939,000 after acquiring an additional 62,872 shares in the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Shares of VEEV stock traded down $5.40 during trading hours on Monday, hitting $157.41. 42,662 shares of the company were exchanged, compared to its average volume of 1,252,674. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.73 and a quick ratio of 3.73. Veeva Systems Inc has a one year low of $78.40 and a one year high of $176.90. The firm has a 50-day moving average price of $167.63. The company has a market cap of $23.98 billion, a PE ratio of 126.81, a price-to-earnings-growth ratio of 8.22 and a beta of 1.39.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). Veeva Systems had a return on equity of 17.61% and a net margin of 28.41%. The company had revenue of $244.75 million for the quarter, compared to the consensus estimate of $238.69 million. During the same period in the previous year, the business posted $0.33 EPS. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. As a group, sell-side analysts expect that Veeva Systems Inc will post 1.6 EPS for the current fiscal year.

In other Veeva Systems news, President Matthew J. Wallach sold 12,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $140.84, for a total value of $1,690,080.00. Following the transaction, the president now owns 12,000 shares of the company’s stock, valued at $1,690,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alan Mateo sold 4,026 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $165.52, for a total transaction of $666,383.52. Following the completion of the transaction, the executive vice president now directly owns 21,744 shares in the company, valued at approximately $3,599,066.88. The disclosure for this sale can be found here. Insiders sold 90,839 shares of company stock worth $14,238,093 in the last three months. 14.38% of the stock is currently owned by corporate insiders.

Several analysts have recently weighed in on the company. JMP Securities raised their target price on Veeva Systems from $122.00 to $153.00 and gave the company a “market outperform” rating in a research note on Thursday, May 30th. Canaccord Genuity increased their price target on shares of Veeva Systems from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target (up previously from $135.00) on shares of Veeva Systems in a research report on Wednesday, April 17th. Stephens raised shares of Veeva Systems from an “equal” rating to an “overweight” rating and increased their price target for the stock from $130.00 to $155.00 in a research report on Thursday, May 30th. Finally, Bank of America increased their price target on shares of Veeva Systems from $160.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Veeva Systems has an average rating of “Buy” and a consensus target price of $147.00.

Veeva Systems Company 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 and data 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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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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