361 Capital LLC lowered its position in shares of Veeva Systems Inc (NYSE:VEEV) by 15.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,293 shares of the technology company’s stock after selling 1,688 shares during the period. 361 Capital LLC’s holdings in Veeva Systems were worth $1,179,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its stake in shares of Veeva Systems by 6.6% during the third quarter. TIAA CREF Investment Management LLC now owns 930,192 shares of the technology company’s stock valued at $101,270,000 after purchasing an additional 57,578 shares in the last quarter. DNB Asset Management AS raised its stake in shares of Veeva Systems by 7.3% during the fourth quarter. DNB Asset Management AS now owns 11,800 shares of the technology company’s stock valued at $1,054,000 after purchasing an additional 800 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Veeva Systems by 1,553.4% during the fourth quarter. Meeder Asset Management Inc. now owns 4,927 shares of the technology company’s stock valued at $439,000 after purchasing an additional 4,629 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Veeva Systems by 200.2% during the fourth quarter. Bank of Montreal Can now owns 111,628 shares of the technology company’s stock valued at $9,971,000 after purchasing an additional 74,442 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Veeva Systems during the fourth quarter valued at about $5,036,000. Institutional investors and hedge funds own 77.96% of the company’s stock.
Shares of Veeva Systems stock opened at $143.11 on Wednesday. Veeva Systems Inc has a 52 week low of $73.47 and a 52 week high of $145.70. The stock has a market capitalization of $20.16 billion, a price-to-earnings ratio of 115.41, a price-to-earnings-growth ratio of 6.26 and a beta of 1.71.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Tuesday, February 26th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. Veeva Systems had a net margin of 26.66% and a return on equity of 16.91%. The firm had revenue of $232.32 million for the quarter, compared to analysts’ expectations of $227.15 million. During the same period in the previous year, the business earned $0.23 earnings per share. Veeva Systems’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities analysts anticipate that Veeva Systems Inc will post 1.53 EPS for the current year.
A number of equities research analysts recently weighed in on VEEV shares. SunTrust Banks lifted their price objective on shares of Veeva Systems to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. DA Davidson boosted their price target on shares of Veeva Systems to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target (up from $110.00) on shares of Veeva Systems in a research report on Wednesday, February 27th. Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research report on Saturday, February 9th. Finally, Barclays boosted their price target on shares of Veeva Systems from $130.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 27th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $119.71.
In other Veeva Systems news, EVP Alan Mateo sold 4,025 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $121.20, for a total transaction of $487,830.00. Following the sale, the executive vice president now owns 29,631 shares in the company, valued at approximately $3,591,277.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eleni Nitsa Zuppas sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $113.06, for a total value of $565,300.00. Following the sale, the insider now owns 13,438 shares in the company, valued at approximately $1,519,300.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,542 shares of company stock worth $15,168,295. 14.38% of the stock is owned by company insiders.
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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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