Alps Advisors Inc. reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,729 shares of the company’s stock after selling 1,157 shares during the period. Alps Advisors Inc.’s holdings in Veeva Systems were worth $537,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Veeva Systems during the second quarter valued at $1,160,000. Pembroke Management LTD purchased a new stake in Veeva Systems during the second quarter valued at $6,714,000. IBM Retirement Fund purchased a new stake in Veeva Systems during the second quarter valued at $331,000. First Republic Investment Management Inc. boosted its stake in Veeva Systems by 54.0% in the first quarter. First Republic Investment Management Inc. now owns 43,730 shares of the company’s stock valued at $1,095,000 after buying an additional 15,335 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Veeva Systems during the first quarter valued at $982,000. Institutional investors and hedge funds own 70.67% of the company’s stock.
Veeva Systems Inc. (NYSE:VEEV) traded down 0.31% during mid-day trading on Friday, reaching $41.28. 1,166,682 shares of the company’s stock were exchanged. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 111.57 and a beta of 1.59. The stock has a 50-day moving average of $40.26 and a 200-day moving average of $33.46. Veeva Systems Inc. has a one year low of $19.97 and a one year high of $42.58.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. The business earned $131.30 million during the quarter, compared to analyst estimates of $126.61 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, equities research analysts anticipate that Veeva Systems Inc. will post $0.60 earnings per share for the current year.
A number of research analysts have recently commented on the stock. Stifel Nicolaus increased their target price on shares of Veeva Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday. Bank of America Corp. reissued a “hold” rating and issued a $44.00 target price on shares of Veeva Systems in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $46.00 target price (up previously from $43.00) on shares of Veeva Systems in a report on Friday. Zacks Investment Research cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, September 5th. Finally, Morgan Stanley reissued a “buy” rating and issued a $44.00 target price on shares of Veeva Systems in a report on Tuesday, August 16th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.08.
In other news, Director Gordon Ritter sold 44,800 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $37.26, for a total transaction of $1,669,248.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy S. Cabral sold 42,441 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $41.42, for a total value of $1,757,906.22. The disclosure for this sale can be found here. Insiders own 19.17% of the company’s stock.
Veeva Systems Company Profile
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.
Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV).
Receive News & Ratings for Veeva Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.