Commonwealth Equity Services Inc grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,529 shares of the technology company’s stock after acquiring an additional 1,282 shares during the period. Commonwealth Equity Services Inc’s holdings in Veeva Systems were worth $2,624,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Veeva Systems by 3.3% in the second quarter. Vanguard Group Inc. now owns 9,125,993 shares of the technology company’s stock worth $559,515,000 after buying an additional 290,865 shares in the last quarter. BlackRock Inc. lifted its position in shares of Veeva Systems by 44.9% in the second quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock worth $356,379,000 after buying an additional 1,801,439 shares in the last quarter. FMR LLC lifted its position in shares of Veeva Systems by 50.9% in the second quarter. FMR LLC now owns 3,456,402 shares of the technology company’s stock worth $211,912,000 after buying an additional 1,166,372 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Veeva Systems by 6.1% in the third quarter. First Trust Advisors LP now owns 2,212,827 shares of the technology company’s stock worth $124,826,000 after buying an additional 126,869 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Veeva Systems by 52.1% in the second quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock worth $113,851,000 after buying an additional 635,842 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.
A number of equities research analysts have issued reports on the company. BidaskClub downgraded Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 14th. Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Wednesday, October 11th. Stifel Nicolaus restated a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a research report on Friday, October 13th. Canaccord Genuity restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research report on Tuesday, August 22nd. Finally, Needham & Company LLC restated a “buy” rating on shares of Veeva Systems in a research report on Thursday, October 12th. Five 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 company has an average rating of “Buy” and an average target price of $65.75.
Veeva Systems Inc. (VEEV) opened at $62.70 on Wednesday. Veeva Systems Inc. has a 52 week low of $40.50 and a 52 week high of $68.07. The stock has a market capitalization of $8,593.85, a P/E ratio of 105.02, a P/E/G ratio of 5.07 and a beta of 1.64.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $166.59 million during the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a return on equity of 12.77% and a net margin of 18.98%. Veeva Systems’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. equities analysts anticipate that Veeva Systems Inc. will post 0.65 earnings per share for the current fiscal year.
In other news, Director Gordon Ritter sold 9,600 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $60.72, for a total transaction of $582,912.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 931 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $58.74, for a total value of $54,686.94. Following the sale, the senior vice president now owns 2,580 shares of the company’s stock, valued at approximately $151,549.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 297,300 shares of company stock valued at $17,247,550. 17.50% of the stock is owned by company insiders.
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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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