DNB Asset Management AS grew its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,384 shares of the technology company’s stock after buying an additional 1,045 shares during the period. DNB Asset Management AS’s holdings in Veeva Systems were worth $3,723,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. First Command Financial Services Inc. purchased a new stake in Veeva Systems in the second quarter worth $32,000. Virtus ETF Advisers LLC purchased a new stake in shares of Veeva Systems in the second quarter worth $41,000. Machina Capital S.A.S. purchased a new stake in shares of Veeva Systems in the second quarter worth $45,000. Commonwealth Bank of Australia grew its stake in shares of Veeva Systems by 71.2% in the second quarter. Commonwealth Bank of Australia now owns 291 shares of the technology company’s stock worth $45,000 after acquiring an additional 121 shares during the last quarter. Finally, Hanson McClain Inc. grew its stake in shares of Veeva Systems by 31.3% in the second quarter. Hanson McClain Inc. now owns 294 shares of the technology company’s stock worth $48,000 after acquiring an additional 70 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $161.08, for a total value of $483,240.00. Following the sale, the insider now directly owns 13,498 shares in the company, valued at $2,174,257.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alan Mateo sold 4,026 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $142.51, for a total value of $573,745.26. Following the completion of the sale, the executive vice president now owns 21,685 shares in the company, valued at $3,090,329.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,506 shares of company stock valued at $11,809,495. Company insiders own 14.38% of the company’s stock.
A number of brokerages have recently issued reports on VEEV. Morgan Stanley lowered their price target on Veeva Systems from $154.00 to $150.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. JMP Securities increased their target price on Veeva Systems from $153.00 to $172.00 and gave the company a “market outperform” rating in a report on Wednesday, August 28th. Canaccord Genuity raised their price objective on Veeva Systems from $135.00 to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Guggenheim raised their price target on Veeva Systems from $154.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Barclays raised their price target on Veeva Systems from $151.00 to $165.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $168.11.
Shares of VEEV stock traded up $2.77 on Friday, hitting $143.77. The company had a trading volume of 890,366 shares, compared to its average volume of 1,416,039. The firm has a market cap of $20.92 billion, a P/E ratio of 115.94, a price-to-earnings-growth ratio of 4.57 and a beta of 1.26. The company has a 50-day moving average price of $148.16 and a 200-day moving average price of $154.37. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.01. Veeva Systems Inc has a twelve month low of $79.26 and a twelve month high of $176.90.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, August 27th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $266.90 million during the quarter, compared to analysts’ expectations of $259.35 million. Veeva Systems had a return on equity of 18.10% and a net margin of 29.72%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. Equities research analysts expect that Veeva Systems Inc will post 1.62 EPS for the current year.
Veeva Systems 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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