AQR Capital Management LLC Sells 3,876 Shares of Veeva Systems Inc. (VEEV)

AQR Capital Management LLC reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,692 shares of the technology company’s stock after selling 3,876 shares during the period. AQR Capital Management LLC’s holdings in Veeva Systems were worth $1,779,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Veeva Systems by 113.2% in the first quarter. Morgan Stanley now owns 8,439,930 shares of the technology company’s stock valued at $432,800,000 after buying an additional 4,482,021 shares in the last quarter. BlackRock Inc. increased its stake in shares of Veeva Systems by 24,931.6% in the first quarter. BlackRock Inc. now owns 4,011,310 shares of the technology company’s stock valued at $205,701,000 after buying an additional 3,995,285 shares in the last quarter. FMR LLC increased its stake in shares of Veeva Systems by 398.1% in the first quarter. FMR LLC now owns 2,290,030 shares of the technology company’s stock valued at $117,433,000 after buying an additional 1,830,270 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Veeva Systems by 16.9% in the first quarter. Vanguard Group Inc. now owns 8,835,128 shares of the technology company’s stock valued at $453,066,000 after buying an additional 1,276,901 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Veeva Systems by 22.8% in the first quarter. Wellington Management Group LLP now owns 4,858,775 shares of the technology company’s stock valued at $249,158,000 after buying an additional 902,330 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Veeva Systems Inc. (NYSE VEEV) opened at 63.12 on Friday. Veeva Systems Inc. has a 52 week low of $36.55 and a 52 week high of $68.07. The firm has a market cap of $8.82 billion, a PE ratio of 101.64 and a beta of 1.63. The stock has a 50 day moving average of $62.96 and a 200 day moving average of $55.35.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, May 25th. The technology company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.04. The business had revenue of $157.90 million for the quarter, compared to the consensus estimate of $151.82 million. Veeva Systems had a return on equity of 12.28% and a net margin of 15.86%. Veeva Systems’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Analysts anticipate that Veeva Systems Inc. will post $0.83 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “AQR Capital Management LLC Sells 3,876 Shares of Veeva Systems Inc. (VEEV)” was originally published by BNB Daily and is the sole property of of BNB Daily. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/19/aqr-capital-management-llc-lowers-stake-in-veeva-systems-inc-veev-updated-updated.html.

VEEV has been the topic of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $67.00 price objective (up from $60.00) on shares of Veeva Systems in a research report on Sunday, May 21st. Morgan Stanley downgraded shares of Veeva Systems from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $53.00 to $68.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 27th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price objective (up from $48.00) on shares of Veeva Systems in a research report on Sunday, May 28th. Finally, Bank of America Corporation upgraded shares of Veeva Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $70.00 in a research report on Friday, May 26th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $62.00.

In other news, SVP Frederic Lequient sold 1,088 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $65.06, for a total transaction of $70,785.28. Following the completion of the transaction, the senior vice president now directly owns 2,875 shares of the company’s stock, valued at approximately $187,047.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eleni Nitsa Zuppas sold 4,897 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $64.75, for a total transaction of $317,080.75. Following the transaction, the insider now directly owns 7,452 shares of the company’s stock, valued at $482,517. The disclosure for this sale can be found here. Insiders have sold a total of 279,958 shares of company stock valued at $17,821,591 over the last ninety days. Company insiders own 19.17% of the company’s stock.

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.

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

Receive News & Ratings for Veeva Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply