Veeva Systems Inc. (VEEV) is Emerald Mutual Fund Advisers Trust’s 2nd Largest Position
Emerald Mutual Fund Advisers Trust boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,038,773 shares of the company’s stock after buying an additional 37,926 shares during the period. Veeva Systems accounts for 2.0% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 2nd largest position. Emerald Mutual Fund Advisers Trust owned about 0.77% of Veeva Systems worth $35,443,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in VEEV. Norges Bank purchased a new stake in shares of Veeva Systems during the fourth quarter worth approximately $11,094,000. Pembroke Management LTD purchased a new stake in shares of Veeva Systems during the second quarter worth approximately $6,714,000. Renaissance Technologies LLC boosted its stake in shares of 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 period. Glenmede Trust Co. NA purchased a new stake in shares of Veeva Systems during the first quarter worth approximately $2,003,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Veeva Systems during the first quarter worth approximately $982,000. 70.67% of the stock is owned by hedge funds and other institutional investors.
Veeva Systems Inc. (NYSE:VEEV) traded down 2.23% during mid-day trading on Tuesday, reaching $40.30. The company’s stock had a trading volume of 1,248,337 shares. The company has a 50-day moving average price of $40.31 and a 200-day moving average price of $33.70. Veeva Systems Inc. has a 12-month low of $19.97 and a 12-month high of $42.58. The firm has a market cap of $5.49 billion, a PE ratio of 108.92 and a beta of 1.58.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The firm had revenue of $131.30 million for the quarter, compared to the consensus estimate of $126.61 million. During the same quarter in the prior year, the business earned $0.13 EPS. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. On average, equities research analysts expect that Veeva Systems Inc. will post $0.60 earnings per share for the current year.
A number of equities research analysts have commented on VEEV shares. Zacks Investment Research cut Veeva Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Morgan Stanley reissued a “buy” rating and issued a $44.00 price objective on shares of Veeva Systems in a research note on Tuesday, August 16th. Canaccord Genuity reissued a “hold” rating and issued a $43.00 price objective (up previously from $35.00) on shares of Veeva Systems in a research note on Monday, August 29th. Citigroup Inc. raised their target price on Veeva Systems from $31.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 23rd. Finally, Raymond James Financial Inc. started coverage on Veeva Systems in a report on Wednesday, August 24th. They issued a “market perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Veeva Systems has an average rating of “Buy” and an average target price of $41.08.
In related news, Director Gordon Ritter sold 44,800 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $37.26, for a total value of $1,669,248.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Matthew J. Wallach sold 84,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the president now owns 42,000 shares in the company, valued at approximately $1,741,740. The disclosure for this sale can be found here. Company 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.
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