Veeva Systems Inc. (VEEV) Shares Bought by American Century Companies Inc.
American Century Companies Inc. raised its position in Veeva Systems Inc. (NYSE:VEEV) by 162.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,494 shares of the technology company’s stock after buying an additional 239,211 shares during the period. American Century Companies Inc. owned approximately 0.28% of Veeva Systems worth $23,696,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. World Asset Management Inc acquired a new position in shares of Veeva Systems during the first quarter worth $229,000. Swiss National Bank raised its position in shares of Veeva Systems by 4.8% in the first quarter. Swiss National Bank now owns 150,057 shares of the technology company’s stock worth $7,695,000 after buying an additional 6,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Veeva Systems by 10.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,542 shares of the technology company’s stock worth $233,000 after buying an additional 418 shares in the last quarter. Comerica Bank acquired a new position in shares of Veeva Systems during the first quarter worth $204,000. Finally, BNP Paribas Arbitrage SA raised 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 in the last quarter. Institutional investors and hedge funds own 71.50% of the company’s stock.
Veeva Systems Inc. (NYSE VEEV) opened at 59.72 on Friday. The stock has a 50 day moving average price of $62.52 and a 200-day moving average price of $56.57. The stock has a market capitalization of $8.36 billion, a PE ratio of 76.37 and a beta of 1.65. Veeva Systems Inc. has a 12-month low of $36.55 and a 12-month high of $68.07.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Veeva Systems had a return on equity of 13.31% and a net margin of 18.98%. The firm had revenue of $166.59 million for the quarter, compared to analysts’ expectations of $164.26 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business’s revenue was up 26.8% compared to the same quarter last year. On average, equities analysts anticipate that Veeva Systems Inc. will post $0.86 earnings per share for the current fiscal year.
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A number of brokerages have weighed in on VEEV. Citigroup Inc. upped their target price on Veeva Systems from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 30th. Deutsche Bank AG restated a “hold” rating and issued a $55.00 target price on shares of Veeva Systems in a research note on Tuesday, May 30th. Needham & Company LLC restated a “buy” rating and issued a $75.00 target price (up from $48.00) on shares of Veeva Systems in a research note on Sunday, May 28th. Pacific Crest restated an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Veeva Systems in a research note on Sunday, May 28th. Finally, Stifel Nicolaus upped their target price on Veeva Systems from $60.00 to $67.00 and gave the stock a “buy” rating in a research note on Saturday, May 27th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $64.77.
In other Veeva Systems news, EVP Alan Mateo sold 8,025 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $59.75, for a total transaction of $479,493.75. Following the sale, the executive vice president now directly owns 14,264 shares of the company’s stock, valued at $852,274. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald E. F. Codd sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $65.38, for a total value of $130,760.00. The disclosure for this sale can be found here. Insiders sold 240,827 shares of company stock worth $15,118,152 over the last ninety days. Insiders own 19.17% of the company’s stock.
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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