BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Veeva Systems Inc (NYSE:VEEV) by 47.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,485 shares of the technology company’s stock after selling 40,886 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Veeva Systems were worth $4,063,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its position in Veeva Systems by 422.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 8,652 shares of the technology company’s stock valued at $941,000 after buying an additional 6,996 shares in the last quarter. Private Advisor Group LLC bought a new stake in Veeva Systems in the 3rd quarter valued at about $230,000. Comerica Bank increased its position in Veeva Systems by 11.2% in the 3rd quarter. Comerica Bank now owns 5,773 shares of the technology company’s stock valued at $515,000 after buying an additional 583 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Veeva Systems by 7.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 18,762 shares of the technology company’s stock valued at $2,043,000 after buying an additional 1,345 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Veeva Systems in the 3rd quarter valued at about $1,661,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.
In other news, SVP Jonathan Faddis sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 24th. The stock was sold at an average price of $80.15, for a total value of $160,300.00. Following the transaction, the senior vice president now owns 3,073 shares in the company, valued at approximately $246,300.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy S. Cabral sold 48,765 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $113.91, for a total value of $5,554,821.15. Following the completion of the transaction, the chief financial officer now owns 23,074 shares in the company, valued at approximately $2,628,359.34. The disclosure for this sale can be found here. Insiders sold a total of 163,157 shares of company stock worth $16,952,836 in the last 90 days. Company insiders own 15.97% of the company’s stock.
Shares of NYSE VEEV opened at $122.32 on Friday. Veeva Systems Inc has a twelve month low of $68.11 and a twelve month high of $124.00. The company has a market capitalization of $17.62 billion, a PE ratio of 98.65, a price-to-earnings-growth ratio of 5.24 and a beta of 1.72.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, February 26th. The technology company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. Veeva Systems had a return on equity of 17.65% and a net margin of 26.66%. The firm had revenue of $232.32 million for the quarter, compared to the consensus estimate of $227.15 million. During the same quarter in the previous year, the business earned $0.23 EPS. The company’s revenue was up 24.9% compared to the same quarter last year. As a group, research analysts forecast that Veeva Systems Inc will post 1.54 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on VEEV shares. Zacks Investment Research downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 18th. Morgan Stanley lifted their price target on Veeva Systems from $109.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, November 29th. JMP Securities lifted their price target on Veeva Systems to $108.00 and gave the company an “outperform” rating in a research note on Thursday, November 29th. KeyCorp lifted their price target on Veeva Systems from $108.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, November 29th. Finally, Barclays started coverage on Veeva Systems in a research note on Wednesday, February 20th. They set an “equal weight” rating and a $130.00 price target for the company. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $117.65.
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Veeva Systems Profile
Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.
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