UBS Asset Management Americas Inc. boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 23.1% during the second quarter, Holdings Channel reports. The institutional investor owned 66,169 shares of the company’s stock after buying an additional 12,435 shares during the period. UBS Asset Management Americas Inc.’s holdings in Veeva Systems were worth $2,258,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC acquired a new stake in Veeva Systems during the second quarter worth approximately $75,081,000. Riverbridge Partners LLC boosted its stake in Veeva Systems by 1.4% in the second quarter. Riverbridge Partners LLC now owns 1,981,733 shares of the company’s stock worth $67,617,000 after buying an additional 26,740 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Veeva Systems by 3.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,038,773 shares of the company’s stock worth $35,443,000 after buying an additional 37,926 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Veeva Systems by 12.7% in the first quarter. Renaissance Technologies LLC now owns 914,500 shares of the company’s stock worth $22,899,000 after buying an additional 103,300 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Veeva Systems during the second quarter worth approximately $22,288,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Veeva Systems Inc. (NYSE:VEEV) traded down 0.41% on Friday, hitting $38.84. The stock had a trading volume of 1,540,140 shares. The firm has a 50-day moving average price of $40.34 and a 200-day moving average price of $33.98. The stock has a market capitalization of $5.29 billion, a P/E ratio of 104.97 and a beta of 1.58. Veeva Systems Inc. has a 52 week low of $19.97 and a 52 week high of $42.58.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, August 30th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The company had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $126.61 million. During the same period last year, the firm posted $0.13 earnings per share. Veeva Systems’s revenue was up 33.8% compared to the same quarter last year. Equities analysts expect that Veeva Systems Inc. will post $0.60 earnings per share for the current fiscal year.
A number of research firms have recently commented on VEEV. Canaccord Genuity reiterated a “buy” rating and set a $46.00 target price (up from $43.00) on shares of Veeva Systems in a research note on Tuesday, October 4th. Stifel Nicolaus boosted their price objective on Veeva Systems from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 31st. Pacific Crest set a $42.00 price objective on Veeva Systems and gave the company a “buy” rating in a research note on Wednesday, August 31st. Needham & Company LLC restated a “buy” rating and issued a $46.00 price objective (up from $43.00) on shares of Veeva Systems in a research note on Friday, September 30th. Finally, KeyCorp boosted their price objective on Veeva Systems from $35.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, August 31st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Veeva Systems has an average rating of “Buy” and an average price target of $41.46.
In other news, President Matthew J. Wallach sold 84,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $36.33, for a total value of $3,051,720.00. Following the transaction, the president now owns 42,000 shares of the company’s stock, valued at $1,525,860. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gordon Ritter sold 44,800 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $37.26, for a total value of $1,669,248.00. The disclosure for this sale can be found here. Corporate insiders own 19.17% 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.
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