Veeva Systems Inc. (VEEV) Holdings Raised by Ameriprise Financial Inc.
Ameriprise Financial Inc. boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 19.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 326,959 shares of the technology company’s stock after purchasing an additional 54,304 shares during the quarter. Ameriprise Financial Inc. owned about 0.23% of Veeva Systems worth $20,045,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. acquired a new position in Veeva Systems during the second quarter valued at approximately $102,000. LS Investment Advisors LLC bought a new position in shares of Veeva Systems in the second quarter valued at approximately $105,000. Huntington National Bank raised its position in shares of 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. Daiwa Securities Group Inc. bought a new position in shares of Veeva Systems in the second quarter valued at approximately $193,000. Finally, Capstone Asset Management Co. bought a new position in shares of Veeva Systems in the second quarter valued at approximately $202,000. 71.46% of the stock is owned by hedge funds and other institutional investors.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 56.41 on Monday. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 72.14 and a beta of 1.63. Veeva Systems Inc. has a 52-week low of $36.55 and a 52-week high of $68.07. The firm has a 50-day moving average of $60.34 and a 200 day moving average of $57.80.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The firm had revenue of $166.59 million during the quarter, compared to analysts’ expectations of $164.26 million. During the same period in the previous year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. Analysts predict that Veeva Systems Inc. will post $0.87 EPS for the current year.
VEEV has been the subject of several recent analyst reports. BidaskClub downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $67.00 target price on shares of Veeva Systems in a research note on Monday, July 10th. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a report on Tuesday, August 22nd. KeyCorp reiterated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a report on Friday, August 25th. Finally, Zacks Investment Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Veeva Systems currently has a consensus rating of “Buy” and an average price target of $64.77.
In related news, Director Ronald E. F. Codd sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $60.42, for a total value of $120,840.00. Following the completion of the sale, the director now directly owns 8,275 shares in the company, valued at approximately $499,975.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 931 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $58.74, for a total value of $54,686.94. Following the completion of the sale, the senior vice president now owns 2,580 shares of the company’s stock, valued at $151,549.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,140 shares of company stock worth $15,992,336. Corporate 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.
Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV).
Receive News & Ratings for Veeva Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.