13,300 Shares in Veeva Systems Inc. (VEEV) Purchased by Numeric Investors LLC
Numeric Investors LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,300 shares of the technology company’s stock, valued at approximately $815,000.
Several other large investors have also made changes to their positions in VEEV. BlackRock Inc. boosted its holdings in shares of Veeva Systems by 24,931.6% in the first quarter. BlackRock Inc. now owns 4,011,310 shares of the technology company’s stock valued at $205,701,000 after acquiring an additional 3,995,285 shares in the last quarter. FMR LLC boosted its holdings in shares of Veeva Systems by 398.1% in the first quarter. FMR LLC now owns 2,290,030 shares of the technology company’s stock valued at $117,433,000 after acquiring an additional 1,830,270 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Veeva Systems by 16.9% in the first quarter. Vanguard Group Inc. now owns 8,835,128 shares of the technology company’s stock valued at $453,066,000 after acquiring an additional 1,276,901 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Veeva Systems in the second quarter valued at approximately $21,806,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Veeva Systems by 631.4% in the first quarter. Point72 Asset Management L.P. now owns 305,000 shares of the technology company’s stock valued at $15,640,000 after acquiring an additional 263,300 shares in the last quarter. 71.46% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on VEEV shares. BidaskClub raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Friday, August 25th. JMP Securities reissued a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Saturday, August 26th. Zacks Investment Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, KeyCorp reissued a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Friday, August 25th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Veeva Systems has a consensus rating of “Buy” and a consensus target price of $65.75.
Veeva Systems Inc. (VEEV) opened at 59.52 on Friday. The company has a 50-day moving average of $57.28 and a 200-day moving average of $58.80. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 76.11 and a beta of 1.62. Veeva Systems Inc. has a 1-year low of $37.34 and a 1-year high of $68.07.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $166.59 million for the quarter, compared to the consensus estimate of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. On average, equities analysts predict that Veeva Systems Inc. will post $0.87 earnings per share for the current year.
In related news, SVP Jonathan Faddis sold 931 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $58.74, for a total value of $54,686.94. Following the transaction, the senior vice president now directly owns 2,580 shares in the company, valued at $151,549.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gordon Ritter sold 10,200 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $63.60, for a total transaction of $648,720.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,612 shares of company stock worth $15,873,361. Corporate insiders own 19.17% of the company’s stock.
About Veeva Systems
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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