Americafirst Capital Management LLC Invests $630,000 in Veeva Systems Inc (VEEV) Stock
Americafirst Capital Management LLC purchased a new position in Veeva Systems Inc (NYSE:VEEV) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,161 shares of the technology company’s stock, valued at approximately $630,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. ETF Managers Group LLC acquired a new stake in Veeva Systems in the 2nd quarter worth $101,000. Robeco Institutional Asset Management B.V. acquired a new stake in Veeva Systems in the 2nd quarter worth $102,000. C M Bidwell & Associates Ltd. grew its position in Veeva Systems by 460.0% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock worth $172,000 after purchasing an additional 2,300 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in Veeva Systems by 77.2% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,952 shares of the technology company’s stock worth $181,000 after purchasing an additional 1,286 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Veeva Systems in the 2nd quarter worth $193,000. Institutional investors own 72.38% of the company’s stock.
In related news, Director Ronald E. F. Codd sold 3,000 shares of Veeva Systems stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $56.45, for a total transaction of $169,350.00. Following the completion of the transaction, the director now directly owns 9,275 shares of the company’s stock, valued at approximately $523,573.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy S. Cabral sold 4,375 shares of Veeva Systems stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $56.44, for a total transaction of $246,925.00. The disclosure for this sale can be found here. Insiders have sold a total of 203,404 shares of company stock valued at $11,747,583 over the last three months. 19.17% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the stock. BidaskClub downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a report on Wednesday, December 6th. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a report on Friday, October 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Veeva Systems in a report on Thursday, October 12th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Veeva Systems has an average rating of “Buy” and a consensus price target of $67.45.
Veeva Systems Inc (NYSE:VEEV) traded up $0.05 during trading hours on Thursday, hitting $55.92. 1,337,400 shares of the stock were exchanged, compared to its average volume of 1,325,261. The company has a market cap of $7,860.00, a P/E ratio of 94.69, a price-to-earnings-growth ratio of 4.53 and a beta of 1.60. Veeva Systems Inc has a one year low of $40.50 and a one year high of $68.07.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.09. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The firm had revenue of $176.10 million during the quarter, compared to the consensus estimate of $171.99 million. During the same period last year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. equities research analysts anticipate that Veeva Systems Inc will post 0.68 EPS for the current year.
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Veeva Systems Profile
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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