Veeva Systems Inc (VEEV) Shares Sold by Cim LLC
Cim LLC decreased its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 8.3% in the 1st quarter, HoldingsChannel reports. The firm owned 11,251 shares of the technology company’s stock after selling 1,014 shares during the period. Veeva Systems comprises approximately 0.5% of Cim LLC’s portfolio, making the stock its 28th biggest holding. Cim LLC’s holdings in Veeva Systems were worth $1,427,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. FMR LLC increased its position in Veeva Systems by 63.4% during the 4th quarter. FMR LLC now owns 5,926,515 shares of the technology company’s stock worth $529,357,000 after buying an additional 2,300,472 shares during the period. Norges Bank bought a new position in shares of Veeva Systems during the fourth quarter worth about $97,108,000. Millennium Management LLC raised its position in shares of Veeva Systems by 76.7% during the fourth quarter. Millennium Management LLC now owns 902,016 shares of the technology company’s stock worth $80,568,000 after acquiring an additional 391,441 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Veeva Systems by 56.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,036,900 shares of the technology company’s stock worth $92,616,000 after purchasing an additional 372,700 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Veeva Systems by 82.1% in the first quarter. Victory Capital Management Inc. now owns 605,422 shares of the technology company’s stock worth $76,804,000 after purchasing an additional 272,909 shares in the last quarter. Institutional investors own 77.96% of the company’s stock.
A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price (up from $135.00) on shares of Veeva Systems in a report on Wednesday, April 17th. DA Davidson boosted their price objective on Veeva Systems to $160.00 and gave the company a “buy” rating in a report on Friday, April 12th. KeyCorp boosted their price objective on Veeva Systems from $114.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, February 27th. Deutsche Bank boosted their price objective on Veeva Systems from $100.00 to $115.00 and gave the company a “hold” rating in a report on Wednesday, February 27th. Finally, ValuEngine upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $119.71.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, February 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.04. The company had revenue of $232.32 million for the quarter, compared to analysts’ expectations of $227.15 million. Veeva Systems had a return on equity of 16.91% and a net margin of 26.66%. Veeva Systems’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, analysts anticipate that Veeva Systems Inc will post 1.53 earnings per share for the current year.
In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $113.06, for a total value of $565,300.00. Following the sale, the insider now directly owns 13,438 shares in the company, valued at $1,519,300.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alan Mateo sold 4,025 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $121.20, for a total value of $487,830.00. Following the completion of the sale, the executive vice president now owns 29,631 shares in the company, valued at $3,591,277.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,542 shares of company stock worth $15,168,295. 14.38% of the stock is owned by insiders.
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Veeva Systems Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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