SG Americas Securities LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,374 shares of the technology company’s stock, valued at approximately $1,249,000.

A number of other hedge funds also recently modified their holdings of VEEV. LS Investment Advisors LLC bought a new stake in shares of Veeva Systems during the second quarter worth $105,000. Huntington National Bank raised its stake in shares of Veeva Systems by 10.6% in the second quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock worth $164,000 after buying an additional 256 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Veeva Systems during the second quarter worth $193,000. Capstone Asset Management Co. bought a new stake in shares of Veeva Systems during the second quarter worth $202,000. Finally, Pennsylvania Trust Co bought a new stake in shares of Veeva Systems during the second quarter worth $203,000. Hedge funds and other institutional investors own 71.50% of the company’s stock.

Veeva Systems Inc. (VEEV) opened at 59.50 on Friday. Veeva Systems Inc. has a one year low of $36.55 and a one year high of $68.07. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 76.09 and a beta of 1.63. The stock’s 50 day moving average is $62.62 and its 200-day moving average is $56.46.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 13.31%. The company had revenue of $166.59 million during the quarter, compared to analysts’ expectations of $164.26 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm’s revenue was up 26.8% on a year-over-year basis. On average, equities research analysts expect that Veeva Systems Inc. will post $0.86 earnings per share for the current fiscal year.

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VEEV has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $67.00 target price (up previously from $60.00) on shares of Veeva Systems in a research report on Sunday, May 21st. Bank of America Corporation upgraded shares of Veeva Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $48.00 to $70.00 in a research report on Friday, May 26th. Canaccord Genuity restated a “buy” rating and issued a $70.00 target price (up previously from $48.00) on shares of Veeva Systems in a research report on Friday, May 26th. Pacific Crest restated an “overweight” rating and issued a $70.00 target price (up previously from $61.00) on shares of Veeva Systems in a research report on Sunday, May 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $75.00 target price (up previously from $48.00) on shares of Veeva Systems in a research report on Sunday, May 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.77.

In other news, CFO Timothy S. Cabral sold 40,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $65.91, for a total value of $2,636,400.00. Following the completion of the sale, the chief financial officer now owns 30,000 shares of the company’s stock, valued at approximately $1,977,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald E. F. Codd sold 2,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $65.38, for a total transaction of $130,760.00. The disclosure for this sale can be found here. Insiders sold a total of 225,527 shares of company stock valued at $14,234,322 in the last ninety days. 19.17% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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