Strategic Advisors LLC bought a new stake in Veeva Systems Inc (NYSE:VEEV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,290 shares of the technology company’s stock, valued at approximately $292,000.
Other institutional investors also recently added to or reduced their stakes in the company. ETF Managers Group LLC purchased a new stake in Veeva Systems during the second quarter worth approximately $101,000. C M Bidwell & Associates Ltd. grew its stake in Veeva Systems by 460.0% during the second quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock worth $172,000 after buying an additional 2,300 shares during the period. 1st Global Advisors Inc. purchased a new stake in Veeva Systems during the second quarter worth approximately $200,000. Oakbrook Investments LLC purchased a new stake in Veeva Systems during the third quarter worth approximately $203,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in Veeva Systems during the third quarter worth approximately $204,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.
Several research firms have issued reports on VEEV. Canaccord Genuity reiterated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research note on Wednesday, December 6th. Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Wednesday, October 11th. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a research note on Friday, October 13th. Needham & Company LLC reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, October 12th. Finally, BidaskClub upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $67.45.
Veeva Systems Inc (NYSE:VEEV) traded down $1.86 during midday trading on Tuesday, hitting $56.51. 1,430,796 shares of the stock were exchanged, compared to its average volume of 862,333. Veeva Systems Inc has a twelve month low of $41.30 and a twelve month high of $68.07. The firm has a market capitalization of $7,990.00, a PE ratio of 62.10, a P/E/G ratio of 4.74 and a beta of 1.60.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, December 5th. The technology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The business had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. During the same period in the previous year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. sell-side analysts expect that Veeva Systems Inc will post 0.68 earnings per share for the current year.
In related news, President Matthew J. Wallach sold 24,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $58.06, for a total value of $1,393,440.00. Following the sale, the president now directly owns 24,000 shares of the company’s stock, valued at $1,393,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gordon Ritter sold 9,600 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $61.03, for a total transaction of $585,888.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,016 shares of company stock worth $10,088,246. Corporate insiders own 17.50% of the company’s stock.
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Veeva Systems Company Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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