Emerald Advisers Inc. PA lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,090,309 shares of the company’s stock after selling 10,691 shares during the period. Veeva Systems comprises 1.8% of Emerald Advisers Inc. PA’s holdings, making the stock its 2nd largest position. Emerald Advisers Inc. PA’s holdings in Veeva Systems were worth $37,201,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Veeva Systems during the fourth quarter worth $11,094,000. Glenmede Trust Co. NA purchased a new stake in Veeva Systems during the first quarter worth $2,003,000. Pacad Investment Ltd. purchased a new stake in Veeva Systems during the first quarter worth $821,000. Teachers Advisors Inc. increased its stake in Veeva Systems by 26.6% in the first quarter. Teachers Advisors Inc. now owns 66,421 shares of the company’s stock worth $1,663,000 after buying an additional 13,946 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Veeva Systems by 2.7% in the first quarter. Franklin Resources Inc. now owns 513,417 shares of the company’s stock worth $12,856,000 after buying an additional 13,400 shares in the last quarter. 70.67% of the stock is owned by institutional investors.
Veeva Systems Inc. (NYSE:VEEV) traded down 2.35% during mid-day trading on Tuesday, hitting $40.25. The stock had a trading volume of 1,032,522 shares. The company’s 50 day moving average price is $40.31 and its 200 day moving average price is $33.70. Veeva Systems Inc. has a 52 week low of $19.97 and a 52 week high of $42.58. The firm has a market cap of $5.48 billion, a PE ratio of 108.78 and a beta of 1.58.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, August 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $126.61 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 EPS. Analysts anticipate that Veeva Systems Inc. will post $0.60 earnings per share for the current year.
A number of brokerages recently commented on VEEV. Bank of America Corp. began coverage on Veeva Systems in a research report on Friday, June 17th. They issued a “neutral” rating and a $40.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of Veeva Systems in a research report on Thursday, June 30th. Zacks Investment Research cut Veeva Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Morgan Stanley restated a “buy” rating and issued a $44.00 price target on shares of Veeva Systems in a research report on Tuesday, August 16th. Finally, Citigroup Inc. raised their price target on Veeva Systems from $31.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $41.08.
In related news, insider Eleni Nitsa Zuppas sold 937 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $40.50, for a total transaction of $37,948.50. Following the sale, the insider now owns 8,321 shares of the company’s stock, valued at approximately $337,000.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Matthew J. Wallach sold 84,000 shares of the stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $41.47, for a total value of $3,483,480.00. Following the sale, the president now directly owns 42,000 shares in the company, valued at approximately $1,741,740. 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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