AE Wealth Management LLC lifted its holdings in Veeva Systems Inc (NYSE:VEEV) by 82.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,115 shares of the technology company’s stock after buying an additional 2,313 shares during the period. AE Wealth Management LLC’s holdings in Veeva Systems were worth $719,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Comerica Bank increased its holdings in shares of Veeva Systems by 28.7% in the 3rd quarter. Comerica Bank now owns 12,076 shares of the technology company’s stock worth $1,749,000 after buying an additional 2,694 shares during the last quarter. Delta Investment Management LLC increased its holdings in shares of Veeva Systems by 4.8% in the 3rd quarter. Delta Investment Management LLC now owns 15,407 shares of the technology company’s stock worth $2,352,000 after buying an additional 707 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Veeva Systems by 4.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 174,689 shares of the technology company’s stock worth $26,673,000 after buying an additional 7,533 shares during the last quarter. United Services Automobile Association increased its holdings in shares of Veeva Systems by 53.3% in the 2nd quarter. United Services Automobile Association now owns 124,189 shares of the technology company’s stock worth $20,132,000 after buying an additional 43,188 shares during the last quarter. Finally, Man Group plc grew its holdings in Veeva Systems by 4.8% during the 3rd quarter. Man Group plc now owns 621,167 shares of the technology company’s stock valued at $94,846,000 after purchasing an additional 28,292 shares during the last quarter. Hedge funds and other institutional investors own 77.38% of the company’s stock.
Several equities analysts recently commented on VEEV shares. Barclays upped their price target on shares of Veeva Systems from $165.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. SunTrust Banks set a $180.00 price target on shares of Veeva Systems and gave the company a “buy” rating in a report on Friday, September 27th. Morgan Stanley upgraded shares of Veeva Systems from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $160.00 to $175.00 in a report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and set a $187.00 price target on shares of Veeva Systems in a report on Monday, November 25th. Finally, ValuEngine downgraded shares of Veeva Systems from a “hold” rating to a “sell” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $174.28.
Veeva Systems stock opened at $148.07 on Tuesday. The stock has a market cap of $22.00 billion, a price-to-earnings ratio of 76.32, a price-to-earnings-growth ratio of 4.12 and a beta of 1.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.40 and a quick ratio of 5.40. Veeva Systems Inc has a 1 year low of $102.55 and a 1 year high of $176.90. The firm has a 50-day moving average of $143.94 and a two-hundred day moving average of $152.81.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, November 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.19. The company had revenue of $280.90 million during the quarter, compared to analysts’ expectations of $274.81 million. Veeva Systems had a net margin of 29.86% and a return on equity of 17.56%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. Research analysts expect that Veeva Systems Inc will post 1.64 earnings per share for the current year.
In other Veeva Systems news, CMO Eleni Nitsa Zuppas sold 5,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $144.99, for a total value of $724,950.00. Following the completion of the sale, the chief marketing officer now directly owns 15,090 shares of the company’s stock, valued at approximately $2,187,899.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 818 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $143.91, for a total transaction of $117,718.38. Following the completion of the sale, the senior vice president now directly owns 800 shares of the company’s stock, valued at $115,128. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,862 shares of company stock valued at $5,477,259. 14.38% of the stock is owned by corporate insiders.
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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