OxFORD Asset Management LLP Invests $3.69 Million in Veeva Systems Inc. (VEEV) Stock
OxFORD Asset Management LLP acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 60,128 shares of the technology company’s stock, valued at approximately $3,686,000.
A number of other large investors also recently added to or reduced their stakes in VEEV. Robeco Institutional Asset Management B.V. purchased a new position in Veeva Systems in the second quarter valued at about $102,000. LS Investment Advisors LLC purchased a new position in Veeva Systems in the second quarter valued at about $105,000. Huntington National Bank raised its position in Veeva Systems by 10.6% in 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 period. Harvest Fund Management Co. Ltd raised its position in Veeva Systems by 77.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,952 shares of the technology company’s stock valued at $181,000 after purchasing an additional 1,286 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in Veeva Systems in the second quarter valued at about $193,000. 71.46% of the stock is currently owned by institutional investors.
Veeva Systems Inc. (VEEV) opened at 56.41 on Friday. The company has a 50-day moving average price of $60.34 and a 200-day moving average price of $57.80. Veeva Systems Inc. has a 1-year low of $36.55 and a 1-year high of $68.07. The firm has a market capitalization of $7.93 billion, a P/E ratio of 72.14 and a beta of 1.65.
Veeva Systems (NYSE:VEEV) last released 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 firm had revenue of $166.59 million during the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The business’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. On average, equities research analysts predict that Veeva Systems Inc. will post $0.87 earnings per share for the current fiscal year.
In other Veeva Systems news, Director Gordon Ritter sold 10,200 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $63.60, for a total transaction of $648,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 931 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $58.74, for a total transaction of $54,686.94. Following the transaction, the senior vice president now directly owns 2,580 shares of the company’s stock, valued at approximately $151,549.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 268,140 shares of company stock valued at $15,992,336. Company insiders own 19.17% of the company’s stock.
Several research firms have commented on VEEV. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a research report on Tuesday, August 22nd. KeyCorp reaffirmed a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Friday, August 25th. BidaskClub lowered Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research report on Monday, July 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Friday, August 25th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.77.
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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