WINTON GROUP Ltd bought a new stake in Veeva Systems Inc (NYSE:VEEV) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,308 shares of the technology company’s stock, valued at approximately $753,000.
Other institutional investors have also added to or reduced their stakes in the company. We Are One Seven LLC grew its position in shares of Veeva Systems by 147.6% in the 1st quarter. We Are One Seven LLC now owns 1,679 shares of the technology company’s stock valued at $123,000 after acquiring an additional 1,001 shares during the period. Next Century Growth Investors LLC bought a new position in shares of Veeva Systems in the 1st quarter valued at about $130,000. American International Group Inc. bought a new position in shares of Veeva Systems in the 4th quarter valued at about $142,000. Synovus Financial Corp bought a new position in shares of Veeva Systems in the 1st quarter valued at about $201,000. Finally, Azimuth Capital Management LLC acquired a new stake in shares of Veeva Systems during the 1st quarter worth about $204,000. 72.92% of the stock is owned by institutional investors and hedge funds.
VEEV has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $89.00 target price for the company in a research note on Wednesday, March 7th. JPMorgan Chase & Co. cut shares of Veeva Systems from an “overweight” rating to a “neutral” rating in a research note on Friday, March 9th. JMP Securities raised their target price on shares of Veeva Systems from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 23rd. ValuEngine upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Canaccord Genuity raised their target price on shares of Veeva Systems from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 25th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $79.34.
Shares of Veeva Systems opened at $78.21 on Tuesday, MarketBeat reports. Veeva Systems Inc has a twelve month low of $52.17 and a twelve month high of $85.00. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of 85.01, a price-to-earnings-growth ratio of 4.25 and a beta of 1.42.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, May 24th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Veeva Systems had a net margin of 20.78% and a return on equity of 12.47%. The business had revenue of $195.55 million during the quarter, compared to analysts’ expectations of $188.92 million. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s revenue was up 22.4% on a year-over-year basis. equities analysts expect that Veeva Systems Inc will post 1.02 earnings per share for the current fiscal year.
In other Veeva Systems news, CFO Timothy S. Cabral sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $81.75, for a total value of $4,087,500.00. Following the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $2,452,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alan Mateo sold 345 shares of the firm’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $79.50, for a total transaction of $27,427.50. The disclosure for this sale can be found here. Insiders sold a total of 138,368 shares of company stock valued at $11,210,954 in the last quarter. Corporate insiders own 15.97% of the company’s stock.
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, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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