Bank of America Corp DE raised its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 25.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 899,149 shares of the technology company’s stock after acquiring an additional 184,283 shares during the quarter. Bank of America Corp DE owned approximately 0.63% of Veeva Systems worth $69,108,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. We Are One Seven LLC increased its holdings in Veeva Systems by 147.6% during the 1st quarter. We Are One Seven LLC now owns 1,679 shares of the technology company’s stock valued at $123,000 after acquiring an additional 1,001 shares in the last quarter. Next Century Growth Investors LLC purchased a new stake in shares of Veeva Systems during the first quarter worth about $130,000. Mutual of America Capital Management LLC purchased a new stake in shares of Veeva Systems during the second quarter worth about $169,000. Cerebellum GP LLC grew its holdings in shares of Veeva Systems by 1,645.0% during the second quarter. Cerebellum GP LLC now owns 2,251 shares of the technology company’s stock worth $173,000 after buying an additional 2,122 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Veeva Systems during the first quarter worth about $200,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.
A number of brokerages have recently commented on VEEV. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a report on Monday, October 8th. Bank of America lifted their price target on shares of Veeva Systems from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 5th. DA Davidson set a $120.00 price target on shares of Veeva Systems and gave the stock a “buy” rating in a report on Friday, October 5th. Finally, Needham & Company LLC lifted their price target on shares of Veeva Systems from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $98.47.
Veeva Systems stock traded up $2.36 during trading on Friday, reaching $91.56. The company had a trading volume of 1,219,711 shares, compared to its average volume of 1,145,677. Veeva Systems Inc has a 12-month low of $52.17 and a 12-month high of $109.05. The company has a market cap of $15.62 billion, a price-to-earnings ratio of 99.52, a PEG ratio of 5.14 and a beta of 1.54.
Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, August 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. Veeva Systems had a net margin of 21.23% and a return on equity of 13.58%. The firm had revenue of $209.60 million during the quarter, compared to the consensus estimate of $203.50 million. During the same period in the previous year, the firm earned $0.23 earnings per share. Veeva Systems’s revenue was up 24.9% compared to the same quarter last year. As a group, analysts anticipate that Veeva Systems Inc will post 1.1 EPS for the current fiscal year.
In other Veeva Systems news, Director Paul J. Sekhri sold 601 shares of Veeva Systems stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $103.67, for a total transaction of $62,305.67. Following the transaction, the director now directly owns 11,459 shares of the company’s stock, valued at $1,187,954.53. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy C. Barabe sold 727 shares of Veeva Systems stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $105.00, for a total transaction of $76,335.00. Following the transaction, the director now directly owns 7,892 shares in the company, valued at $828,660. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,371 shares of company stock valued at $15,415,780. 15.97% of the stock is owned by insiders.
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 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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