Huntington National Bank boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,668 shares of the technology company’s stock after buying an additional 256 shares during the period. Huntington National Bank’s holdings in Veeva Systems were worth $164,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Cim LLC increased its stake in shares of Veeva Systems by 1.9% in the first quarter. Cim LLC now owns 10,503 shares of the technology company’s stock worth $539,000 after buying an additional 196 shares during the last quarter. Brown Capital Management LLC increased its stake in shares of Veeva Systems by 3.4% in the first quarter. Brown Capital Management LLC now owns 7,423,513 shares of the technology company’s stock worth $380,678,000 after buying an additional 246,816 shares during the last quarter. State Street Corp boosted its position in Veeva Systems by 4.4% in the first quarter. State Street Corp now owns 1,221,052 shares of the technology company’s stock worth $62,616,000 after buying an additional 51,135 shares during the period. Glen Harbor Capital Management LLC boosted its position in Veeva Systems by 28.8% in the first quarter. Glen Harbor Capital Management LLC now owns 29,524 shares of the technology company’s stock worth $1,514,000 after buying an additional 6,600 shares during the period. Finally, Comerica Bank bought a new position in Veeva Systems during the first quarter worth approximately $204,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Veeva Systems Inc. (NYSE VEEV) traded down 0.43% on Friday, hitting $63.12. The stock had a trading volume of 730,059 shares. The stock has a market capitalization of $8.82 billion, a P/E ratio of 101.64 and a beta of 1.63. Veeva Systems Inc. has a 52 week low of $36.55 and a 52 week high of $68.07. The firm has a 50-day moving average price of $62.96 and a 200-day moving average price of $55.35.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, May 25th. The technology company reported $0.14 EPS for the quarter, missing the 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 firm had revenue of $157.90 million for the quarter, compared to analysts’ expectations of $151.82 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The company’s quarterly revenue was up 31.8% on a year-over-year basis. Equities analysts expect that Veeva Systems Inc. will post $0.83 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on VEEV. Zacks Investment Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 27th. Stifel Nicolaus restated a “buy” rating and set a $67.00 price target on shares of Veeva Systems in a report on Monday, July 10th. BidaskClub downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Morgan Stanley downgraded shares of Veeva Systems from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $53.00 to $68.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Finally, Citigroup Inc. lifted their price target on shares of Veeva Systems from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $62.00.
In other Veeva Systems news, SVP Jonathan Faddis sold 34,065 shares of Veeva Systems stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $66.67, for a total value of $2,271,113.55. Following the sale, the senior vice president now owns 35,139 shares of the company’s stock, valued at approximately $2,342,717.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy S. Cabral sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $65.91, for a total value of $2,636,400.00. Following the sale, the chief financial officer now directly owns 30,000 shares in the company, valued at approximately $1,977,300. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,958 shares of company stock worth $17,821,591. 19.17% of the stock is owned by insiders.
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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