Columbus Circle Investors Acquires 22,255 Shares of Veeva Systems Inc. (VEEV)
Columbus Circle Investors boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 593.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,005 shares of the technology company’s stock after purchasing an additional 22,255 shares during the period. Columbus Circle Investors’ holdings in Veeva Systems were worth $1,467,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. ETF Managers Group LLC acquired a new stake in Veeva Systems during the second quarter valued at approximately $101,000. Robeco Institutional Asset Management B.V. acquired a new stake in Veeva Systems during the second quarter valued at approximately $102,000. LS Investment Advisors LLC acquired a new stake in Veeva Systems during the second quarter valued at approximately $105,000. Huntington National Bank lifted its stake in Veeva Systems by 10.6% during the second quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock valued at $164,000 after purchasing an additional 256 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. lifted its stake in Veeva Systems by 460.0% during the second quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock valued at $172,000 after purchasing an additional 2,300 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.
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In other Veeva Systems news, Director Gordon Ritter sold 10,200 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $57.95, for a total value of $591,090.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alan Mateo sold 528 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $58.74, for a total transaction of $31,014.72. Following the completion of the transaction, the executive vice president now owns 6,985 shares in the company, valued at approximately $410,298.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 297,300 shares of company stock valued at $17,247,550. 17.50% of the stock is owned by insiders.
Shares of Veeva Systems Inc. (NYSE VEEV) opened at $62.64 on Wednesday. The company has a market cap of $8,593.85, a P/E ratio of 105.02, a P/E/G ratio of 5.07 and a beta of 1.64. Veeva Systems Inc. has a 12-month low of $40.50 and a 12-month high of $68.07.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $166.59 million during 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 quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS. sell-side analysts forecast that Veeva Systems Inc. will post 0.65 earnings per share for the current year.
Several analysts recently commented on VEEV shares. 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. BidaskClub lowered shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 14th. 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. 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. Finally, Canaccord Genuity reissued a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Tuesday, August 22nd. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.75.
Veeva Systems Company 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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