6,800 Shares in Veeva Systems Inc. (VEEV) Acquired by Fox Run Management L.L.C.
Fox Run Management L.L.C. purchased a new position in Veeva Systems Inc. (NYSE:VEEV) during the second quarter, Holdings Channel reports. The fund purchased 6,800 shares of the technology company’s stock, valued at approximately $417,000.
Several other institutional investors have also bought and sold shares of VEEV. Comerica Bank purchased a new position in shares of Veeva Systems during the first quarter worth about $204,000. BNP Paribas Arbitrage SA boosted its position in shares of Veeva Systems by 135.6% in the first quarter. BNP Paribas Arbitrage SA now owns 3,809 shares of the technology company’s stock worth $195,000 after buying an additional 2,192 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Veeva Systems during the first quarter worth about $217,000. IFP Advisors Inc boosted its position in shares of Veeva Systems by 26.6% in the first quarter. IFP Advisors Inc now owns 4,329 shares of the technology company’s stock worth $222,000 after buying an additional 909 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Veeva Systems during the first quarter worth about $226,000. 80.45% of the stock is owned by institutional investors.
Shares of Veeva Systems Inc. (VEEV) opened at 63.85 on Tuesday. Veeva Systems Inc. has a 52 week low of $35.92 and a 52 week high of $68.07. The stock has a 50 day moving average price of $61.65 and a 200 day moving average price of $50.34. The firm has a market cap of $8.92 billion, a PE ratio of 102.82 and a beta of 1.63.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, May 25th. The technology company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $157.90 million during the quarter, compared to analysts’ expectations of $151.82 million. Veeva Systems had a return on equity of 12.28% and a net margin of 15.86%. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. Equities analysts expect that Veeva Systems Inc. will post $0.83 earnings per share for the current year.
VEEV has been the subject of a number of recent research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 target price (up previously from $48.00) on shares of Veeva Systems in a report on Friday, May 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 target price on shares of Veeva Systems in a report on Monday, July 10th. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, May 31st. Citigroup Inc. upped their target price on Veeva Systems from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. Finally, Pacific Crest reaffirmed an “overweight” rating and issued a $70.00 target price (up previously from $61.00) on shares of Veeva Systems in a report on Sunday, May 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Veeva Systems presently has an average rating of “Buy” and a consensus target price of $62.00.
In related news, President Matthew J. Wallach sold 24,000 shares of the business’s stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $51.06, for a total transaction of $1,225,440.00. Following the transaction, the president now owns 24,000 shares in the company, valued at approximately $1,225,440. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 34,065 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $66.67, for a total value of $2,271,113.55. Following the transaction, the senior vice president now owns 35,139 shares in the company, valued at approximately $2,342,717.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,158 shares of company stock worth $18,993,748. Company insiders own 17.50% 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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