Ownership Capital B.V. cut its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 17.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 760,106 shares of the technology company's stock after selling 162,600 shares during the quarter. Veeva Systems accounts for 5.1% of Ownership Capital B.V.'s portfolio, making the stock its 8th largest position. Ownership Capital B.V. owned 0.47% of Veeva Systems worth $159,523,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter worth about $26,000. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems in the 1st quarter worth about $28,000. Blue Trust Inc. increased its holdings in shares of Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock worth $33,000 after acquiring an additional 173 shares during the period. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter worth about $35,000. Finally, Mather Group LLC. grew its position in Veeva Systems by 166.3% in the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company's stock valued at $46,000 after buying an additional 158 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 10.50% of the company's stock.
Veeva Systems Stock Up 5.2 %
Shares of Veeva Systems stock traded up $11.61 during trading on Friday, hitting $235.00. 2,472,493 shares of the company were exchanged, compared to its average volume of 752,313. The stock has a market capitalization of $38.05 billion, a price-to-earnings ratio of 62.67, a P/E/G ratio of 2.29 and a beta of 0.81. The firm has a 50 day moving average price of $213.98 and a 200 day moving average price of $199.75. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $240.68.
Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current year.
Wall Street Analyst Weigh In
VEEV has been the subject of several research reports. Citigroup raised their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the company a "buy" rating in a research report on Tuesday, August 27th. Needham & Company LLC restated a "buy" rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Friday. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a "neutral" rating in a research note on Monday, September 9th. Finally, Raymond James upped their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average target price of $237.00.
Get Our Latest Stock Report on VEEV
Veeva Systems Profile
(
Free Report)
Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.
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