Profund Advisors LLC Has $3.67 Million Stock Position in Veeva Systems Inc (NYSE:VEEV)

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Profund Advisors LLC trimmed its position in Veeva Systems Inc (NYSE:VEEV) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,108 shares of the technology company’s stock after selling 2,970 shares during the quarter. Profund Advisors LLC’s holdings in Veeva Systems were worth $3,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Belpointe Asset Management LLC increased its position in Veeva Systems by 24.1% during the fourth quarter. Belpointe Asset Management LLC now owns 3,939 shares of the technology company’s stock worth $554,000 after acquiring an additional 764 shares during the period. Alliancebernstein L.P. increased its position in Veeva Systems by 10.2% during the fourth quarter. Alliancebernstein L.P. now owns 520,156 shares of the technology company’s stock worth $73,165,000 after acquiring an additional 48,090 shares during the period. Ameritas Investment Company LLC increased its position in Veeva Systems by 0.6% during the fourth quarter. Ameritas Investment Company LLC now owns 26,872 shares of the technology company’s stock worth $3,780,000 after acquiring an additional 166 shares during the period. Standard Life Aberdeen plc increased its position in Veeva Systems by 15.9% during the fourth quarter. Standard Life Aberdeen plc now owns 21,358 shares of the technology company’s stock worth $3,005,000 after acquiring an additional 2,923 shares during the period. Finally, Alberta Investment Management Corp increased its position in Veeva Systems by 300.0% during the fourth quarter. Alberta Investment Management Corp now owns 7,600 shares of the technology company’s stock worth $1,069,000 after acquiring an additional 5,700 shares during the period. Institutional investors and hedge funds own 78.39% of the company’s stock.

In other news, CMO Eleni Nitsa Zuppas sold 276 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $141.16, for a total value of $38,960.16. Following the sale, the chief marketing officer now owns 14,065 shares in the company, valued at approximately $1,985,415.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 1,166 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $142.00, for a total transaction of $165,572.00. Following the completion of the sale, the senior vice president now owns 1,966 shares in the company, valued at approximately $279,172. The disclosure for this sale can be found here. Insiders sold a total of 19,097 shares of company stock worth $2,761,836 in the last 90 days. 14.38% of the stock is owned by corporate insiders.

Veeva Systems stock traded up $12.78 on Thursday, hitting $147.09. The company’s stock had a trading volume of 1,646,786 shares, compared to its average volume of 1,687,527. The firm has a market cap of $21.53 billion, a P/E ratio of 77.01, a price-to-earnings-growth ratio of 5.20 and a beta of 1.18. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $147.35 and a 200-day moving average price of $147.09. Veeva Systems Inc has a one year low of $118.11 and a one year high of $176.90.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, March 3rd. The technology company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Veeva Systems had a net margin of 27.27% and a return on equity of 16.96%. The company had revenue of $311.50 million for the quarter, compared to the consensus estimate of $298.00 million. During the same quarter in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 34.1% compared to the same quarter last year. Analysts anticipate that Veeva Systems Inc will post 1.79 EPS for the current year.

A number of equities analysts recently issued reports on VEEV shares. Deutsche Bank dropped their target price on shares of Veeva Systems from $160.00 to $150.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. They noted that the move was a valuation call. SunTrust Banks dropped their target price on shares of Veeva Systems from $175.00 to $167.00 and set a “buy” rating on the stock in a research report on Thursday. Canaccord Genuity reissued a “hold” rating and issued a $165.00 price target on shares of Veeva Systems in a report on Wednesday, March 4th. Stephens reissued a “buy” rating and issued a $185.00 price target on shares of Veeva Systems in a report on Wednesday, November 27th. Finally, Stifel Nicolaus lowered their price target on shares of Veeva Systems from $185.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $176.15.

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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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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