Several other big investors have also modified their stock holdings. MetLife Investment Management LLC purchased a new position in Veeva Systems in the first quarter for $1,906,000. Dimensional Fund Advisors LP increased its position in Veeva Systems by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 190,289 shares of the technology company worth $40,430,000 after acquiring an additional 3,286 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Veeva Systems by 11.5% in the first quarter. Sequoia Financial Advisors LLC now owns 1,018 shares of the technology company worth $216,000 after acquiring an additional 105 shares in the last quarter. The National Pension Service raised its position in Veeva Systems by 3.0% in the first quarter. The National Pension Service now owns 195,170 shares of the technology company worth $41,466,000 after acquiring an additional 5,607 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Veeva Systems by 1.0% in the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company worth $2,738,229,000 after acquiring an additional 132,560 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s shares.
Veeva systems are trading down 0.5%
Shares of NYSE:VEEV opened at $195.00 on Friday. The stock’s 50-day moving average price is $182.68 and its 200-day moving average price is $175.14. The company has a market capitalization of $31.24 billion, a price-earnings ratio of 60.94, a PEG ratio of 3.65, and a beta of 0.92. Veeva Systems Inc. has a 12-month minimum of $151.02 and a 12-month maximum of $232.26.
Veeva Systems (NYSE:VEEV – Free Report) last released its quarterly earnings data on Wednesday, May 31. The technology company reported $0.47 EPS for the quarter, beating analyst consensus estimates of $0.38 by $0.09. The company had revenue of $526.33 million in the quarter, compared to the consensus estimate of $515.47 million. Veeva Systems achieved a return on equity of 10.88% and a net margin of 23.85%. As a group, research analysts forecast Veeva Systems Inc. to post 2.7 earnings per share for the current fiscal year.
Internal Transactions at Veeva Systems
In related news, director Timothy S. Cabral sold 12,036 shares of the firm’s capital stock in a transaction completed on Friday, June 2. The shares sold at an average price of $200.05, for a total transaction of $2,407,801.80. Following the sale, the director now directly owns 71,078 shares in the company, valued at approximately $14,219,153.90. The sale was disclosed in a document filed with the SEC, which can be accessed via this link. In other Veeva Systems news, Director Paul Edward Chamberlain sold 160 shares of Veeva Systems in a transaction that occurred on Monday, June 12. The shares sold at an average price of $189.22, for a total transaction of $30,275.20. Following the sale, the director now directly owns 16,942 shares in the company, valued at approximately $3,205,765.24. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available through the SEC’s website. Additionally, Director Timothy S. Cabral sold 12,036 shares of Veeva Systems in a transaction that occurred on Friday, June 2. The share sold at an average price of $200.05, for a total value of $2,407,801.80. Following the sale, the director now owns 71,078 shares of the company, valued at $14,219,153.90. The disclosure of this sale can be found here. Insiders have sold a total of 15,333 company shares worth $3,059,046 in the past three months. Currently, 10.98% of the shares are owned by insiders of the company.
Wall Street analysts forecast growth
Several research companies have published reports on VEEV. Needham & Company LLC reiterated a “Buy” rating and issued a $220.00 price target for shares of Veeva Systems in a research report on Thursday, March 2. Barclays raised its price target on Veeva Systems from $203.00 to $225.00 in a research report on Friday, June 23. StockNews.com downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21. Guggenheim upgraded Veeva Systems from a “neutral” rating to a “buy” rating and set a $226.00 price target for the company in a research report on Thursday, June 1. Ultimately, KeyCorp raised its price target on Veeva Systems from $185.00 to $210.00 in a research report on Friday, June 2. One research analyst has given the stock a sell rating, nine have given a hold rating, and thirteen have issued a buy rating on the stock. Based on data from MarketBeat.com, the company has an average “Moderate Buy” rating and a consensus price target of $205.09.
Veeva Systems Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data solutions, such as Veeva customer relationship management (CRM) that empowers customer-facing employees at pharmaceutical and biotech companies; Veeva Vault PromoMats, a comprehensive digital asset and content management solution; Veeva Vault Medical, which provides a source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that enables link to generate real-time intelligence; and Veeva Compass includes longitudinal and de-identified patient data for the United States.
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