Teachers Advisors LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,118 shares of the technology company’s stock after buying an additional 29,780 shares during the period. Teachers Advisors LLC’s holdings in Veeva Systems were worth $10,518,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Comerica Bank acquired a new position in Veeva Systems during the first quarter worth $204,000. BNP Paribas Arbitrage SA raised its position in Veeva Systems by 135.6% in the first quarter. BNP Paribas Arbitrage SA now owns 3,809 shares of the technology company’s stock worth $195,000 after buying an additional 2,192 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Veeva Systems during the first quarter worth $217,000. IFP Advisors Inc raised its position in Veeva Systems by 26.6% in the first quarter. IFP Advisors Inc now owns 4,329 shares of the technology company’s stock worth $222,000 after buying an additional 909 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Veeva Systems during the first quarter worth approximately $226,000. Institutional investors and hedge funds own 78.58% of the company’s stock.
Shares of Veeva Systems Inc. (NYSE VEEV) traded down 0.43% during midday trading on Friday, reaching $63.12. 730,059 shares of the company traded hands. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 101.64 and a beta of 1.63. Veeva Systems Inc. has a 12 month low of $36.55 and a 12 month high of $68.07. The company’s 50 day moving average is $62.96 and its 200-day moving average is $55.35.
Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, May 25th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Veeva Systems had a return on equity of 12.28% and a net margin of 15.86%. The company had revenue of $157.90 million during the quarter, compared to analyst estimates of $151.82 million. During the same period in the prior year, the business posted $0.15 earnings per share. Veeva Systems’s revenue was up 31.8% on a year-over-year basis. Equities research analysts forecast that Veeva Systems Inc. will post $0.83 earnings per share for the current fiscal year.
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A number of equities analysts have commented on VEEV shares. Zacks Investment Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 target price (up from $48.00) on shares of Veeva Systems in a research note on Friday, May 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research note on Monday, July 10th. Citigroup Inc. lifted their target price on shares of Veeva Systems from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 30th. Finally, Pacific Crest reaffirmed an “overweight” rating and set a $70.00 target price (up from $61.00) on shares of Veeva Systems in a research note on Sunday, May 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $62.00.
In related news, EVP Alan Mateo sold 8,025 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $62.89, for a total value of $504,692.25. Following the transaction, the executive vice president now owns 14,010 shares in the company, valued at $881,088.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eleni Nitsa Zuppas sold 4,897 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $64.75, for a total transaction of $317,080.75. Following the completion of the transaction, the insider now owns 7,452 shares in the company, valued at approximately $482,517. The disclosure for this sale can be found here. Insiders sold 279,958 shares of company stock worth $17,821,591 over the last three months. Corporate insiders own 19.17% of the company’s stock.
About Veeva Systems
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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