First Allied Advisory Services Inc. acquired a new stake in shares of Veeva Systems Inc (NYSE:VEEV) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,367 shares of the technology company’s stock, valued at approximately $366,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of VEEV. Endurance Wealth Management Inc. acquired a new position in Veeva Systems in the third quarter worth approximately $27,000. First Command Financial Services Inc. acquired a new position in Veeva Systems in the second quarter worth approximately $32,000. Venturi Wealth Management LLC acquired a new position in Veeva Systems in the third quarter worth approximately $35,000. Virtus ETF Advisers LLC acquired a new position in Veeva Systems in the second quarter worth approximately $41,000. Finally, Tower Research Capital LLC TRC acquired a new position in Veeva Systems in the third quarter worth approximately $43,000. Institutional investors and hedge funds own 77.78% of the company’s stock.
Several research analysts have issued reports on the stock. Raymond James upgraded shares of Veeva Systems from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research report on Thursday, September 26th. SunTrust Banks set a $180.00 price target on shares of Veeva Systems and gave the stock a “buy” rating in a research report on Friday, September 27th. Guggenheim lifted their price target on shares of Veeva Systems from $154.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC lifted their price target on shares of Veeva Systems from $150.00 to $187.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus lifted their price target on shares of Veeva Systems from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $168.11.
In other Veeva Systems news, CAO Michele O’connor sold 1,600 shares of Veeva Systems stock in a transaction on Friday, October 4th. The shares were sold at an average price of $151.94, for a total transaction of $243,104.00. Following the completion of the sale, the chief accounting officer now owns 1,817 shares of the company’s stock, valued at approximately $276,074.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Frederic Lequient sold 1,256 shares of Veeva Systems stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.00, for a total transaction of $198,448.00. Following the sale, the senior vice president now directly owns 2,875 shares of the company’s stock, valued at approximately $454,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,506 shares of company stock worth $11,755,615. Corporate insiders own 14.38% of the company’s stock.
NYSE VEEV opened at $154.33 on Thursday. Veeva Systems Inc has a twelve month low of $79.26 and a twelve month high of $176.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a market cap of $22.59 billion, a price-to-earnings ratio of 124.46, a PEG ratio of 4.98 and a beta of 1.26. The firm’s 50 day moving average price is $148.02 and its two-hundred day moving average price is $155.07.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, August 27th. The technology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. Veeva Systems had a net margin of 29.72% and a return on equity of 18.10%. The firm had revenue of $266.90 million for the quarter, compared to analysts’ expectations of $259.35 million. During the same period in the previous year, the company posted $0.39 EPS. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, research analysts forecast that Veeva Systems Inc will post 1.62 EPS for the current fiscal 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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