Neuburgh Advisers LLC Increases Stake in Veeva Systems Inc (NYSE:VEEV)

Neuburgh Advisers LLC grew its holdings in Veeva Systems Inc (NYSE:VEEV) by 80.8% during the 2nd quarter, Holdings Channel reports. The fund owned 3,472 shares of the technology company’s stock after buying an additional 1,552 shares during the period. Neuburgh Advisers LLC’s holdings in Veeva Systems were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of VEEV. First Command Financial Services Inc. purchased a new position in Veeva Systems during the second quarter valued at approximately $32,000. Hanson McClain Inc. increased its stake in Veeva Systems by 67.2% in the 1st quarter. Hanson McClain Inc. now owns 224 shares of the technology company’s stock worth $28,000 after buying an additional 90 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in Veeva Systems in the 2nd quarter worth $45,000. Bremer Bank National Association purchased a new stake in Veeva Systems in the 1st quarter worth $44,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in Veeva Systems during the second quarter valued at about $58,000. Institutional investors and hedge funds own 77.17% of the company’s stock.

A number of equities analysts have recently weighed in on the company. SunTrust Banks upped their price objective on Veeva Systems from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. KeyCorp lifted their target price on Veeva Systems from $172.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on Veeva Systems from $150.00 to $183.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Bank of America boosted their price target on Veeva Systems from $160.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Canaccord Genuity upped their price target on Veeva Systems from $135.00 to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $167.06.

NYSE:VEEV traded down $0.30 during trading hours on Wednesday, reaching $144.82. The stock had a trading volume of 38,689 shares, compared to its average volume of 1,494,011. The stock has a market capitalization of $21.28 billion, a PE ratio of 117.38, a PEG ratio of 4.68 and a beta of 1.32. Veeva Systems Inc has a 52 week low of $79.26 and a 52 week high of $176.90. The company has a 50 day moving average price of $160.99 and a two-hundred day moving average price of $147.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.23 and a current ratio of 4.23.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, August 27th. The technology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Veeva Systems had a return on equity of 18.10% and a net margin of 29.72%. The firm had revenue of $266.90 million during the quarter, compared to the consensus estimate of $259.35 million. During the same period in the prior year, the company earned $0.39 EPS. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. Equities research analysts predict that Veeva Systems Inc will post 1.62 EPS for the current year.

In related news, CFO Timothy S. Cabral sold 586 shares of Veeva Systems stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $163.47, for a total value of $95,793.42. Following the completion of the transaction, the chief financial officer now owns 1,175 shares in the company, valued at $192,077.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Frederic Lequient sold 1,256 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.00, for a total value of $198,448.00. Following the sale, the senior vice president now directly owns 2,875 shares in the company, valued at $454,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,791 shares of company stock worth $11,001,094. 14.38% of the stock is owned by insiders.

Veeva Systems Company 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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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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