FDx Advisors Inc. decreased its position in Veeva Systems Inc (NYSE:VEEV) by 29.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,524 shares of the technology company’s stock after selling 2,742 shares during the quarter. FDx Advisors Inc.’s holdings in Veeva Systems were worth $501,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Capital Planning Advisors LLC purchased a new position in shares of Veeva Systems during the 2nd quarter valued at approximately $656,000. Financial Enhancement Group LLC bought a new position in Veeva Systems during the second quarter worth $276,000. Schwab Charles Investment Management Inc. lifted its stake in Veeva Systems by 9.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 433,122 shares of the technology company’s stock worth $33,290,000 after purchasing an additional 36,590 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Veeva Systems by 88.6% during the second quarter. Russell Investments Group Ltd. now owns 169,355 shares of the technology company’s stock worth $12,963,000 after purchasing an additional 79,541 shares during the last quarter. Finally, Sfmg LLC lifted its stake in Veeva Systems by 13.8% during the second quarter. Sfmg LLC now owns 19,270 shares of the technology company’s stock worth $1,481,000 after purchasing an additional 2,340 shares during the last quarter. 76.02% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on VEEV shares. Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Tuesday, July 17th. SunTrust Banks started coverage on Veeva Systems in a research note on Monday, June 25th. They set a “buy” rating and a $100.00 price objective on the stock. Needham & Company LLC raised their price objective on Veeva Systems to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 25th. Canaccord Genuity raised their target price on Veeva Systems from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 25th. Finally, Guggenheim initiated coverage on Veeva Systems in a research note on Tuesday, August 7th. They issued a “buy” rating and a $100.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $94.29.
VEEV stock opened at $103.62 on Thursday. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of 112.53, a P/E/G ratio of 5.56 and a beta of 1.38. Veeva Systems Inc has a 1 year low of $52.17 and a 1 year high of $104.54.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, August 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The company had revenue of $209.60 million for the quarter, compared to analysts’ expectations of $203.50 million. Veeva Systems had a return on equity of 14.20% and a net margin of 21.23%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. equities research analysts anticipate that Veeva Systems Inc will post 1.02 EPS for the current fiscal year.
In other news, President Matthew J. Wallach sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $84.57, for a total transaction of $1,014,840.00. Following the transaction, the president now directly owns 12,000 shares of the company’s stock, valued at $1,014,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 612 shares of the firm’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $79.50, for a total value of $48,654.00. Following the transaction, the senior vice president now directly owns 2,823 shares in the company, valued at $224,428.50. The disclosure for this sale can be found here. Insiders have sold 198,188 shares of company stock worth $16,461,263 over the last three months. Corporate insiders own 15.97% of the company’s stock.
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 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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