Nisa Investment Advisors LLC reduced its position in shares of Veeva Systems Inc (NYSE:VEEV) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,099 shares of the technology company’s stock after selling 6,327 shares during the period. Nisa Investment Advisors LLC’s holdings in Veeva Systems were worth $2,420,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of VEEV. Yale University purchased a new stake in shares of Veeva Systems during the third quarter worth $13,064,000. BlackRock Inc. increased its position in shares of Veeva Systems by 18.6% during the third quarter. BlackRock Inc. now owns 7,710,493 shares of the technology company’s stock worth $839,440,000 after acquiring an additional 1,207,291 shares during the period. AXA increased its position in shares of Veeva Systems by 77.0% during the third quarter. AXA now owns 165,515 shares of the technology company’s stock worth $18,020,000 after acquiring an additional 72,022 shares during the period. One Wealth Advisors LLC purchased a new stake in shares of Veeva Systems during the third quarter worth $173,000. Finally, First Hawaiian Bank purchased a new stake in shares of Veeva Systems during the third quarter worth $513,000. Institutional investors own 76.68% of the company’s stock.
Shares of VEEV traded up $0.21 during midday trading on Friday, hitting $120.81. The company had a trading volume of 1,011,837 shares, compared to its average volume of 1,288,229. The company has a market capitalization of $17.55 billion, a P/E ratio of 131.32, a PEG ratio of 4.47 and a beta of 1.72. Veeva Systems Inc has a 52 week low of $58.91 and a 52 week high of $122.12.
Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, November 28th. The technology company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company had revenue of $224.70 million during the quarter, compared to the consensus estimate of $216.04 million. Veeva Systems had a net margin of 23.61% and a return on equity of 15.51%. The company’s revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, sell-side analysts expect that Veeva Systems Inc will post 1.19 earnings per share for the current year.
In related news, EVP Alan Mateo sold 538 shares of the business’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $98.55, for a total transaction of $53,019.90. Following the completion of the sale, the executive vice president now owns 25,167 shares of the company’s stock, valued at approximately $2,480,207.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Matthew J. Wallach sold 12,000 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $117.64, for a total transaction of $1,411,680.00. Following the sale, the president now directly owns 12,000 shares of the company’s stock, valued at approximately $1,411,680. The disclosure for this sale can be found here. Insiders sold a total of 182,261 shares of company stock valued at $16,898,031 in the last three months. Insiders own 15.97% of the company’s stock.
VEEV has been the topic of a number of recent research reports. ValuEngine raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Stephens began coverage on Veeva Systems in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $113.00 target price on the stock. Bank of America reissued a “buy” rating and issued a $120.00 target price (up previously from $110.00) on shares of Veeva Systems in a report on Thursday, November 29th. KeyCorp increased their target price on Veeva Systems from $108.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, November 29th. Finally, Morgan Stanley dropped their target price on Veeva Systems from $113.00 to $109.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $106.75.
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 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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