Stevens Capital Management LP Buys Shares of 68,332 Veeva Systems Inc. (VEEV)
Stevens Capital Management LP bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 68,332 shares of the technology company’s stock, valued at approximately $4,189,000.
Other large investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new position in shares of Veeva Systems in the 2nd quarter worth about $102,000. LS Investment Advisors LLC bought a new position in shares of Veeva Systems in the 2nd quarter worth about $105,000. Huntington National Bank increased its stake in shares of Veeva Systems by 10.6% in the 2nd quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock worth $164,000 after acquiring an additional 256 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Veeva Systems in the 2nd quarter worth about $193,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Veeva Systems by 135.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,809 shares of the technology company’s stock worth $195,000 after acquiring an additional 2,192 shares in the last quarter. 71.46% of the stock is owned by hedge funds and other institutional investors.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 56.25 on Tuesday. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 71.93 and a beta of 1.65. Veeva Systems Inc. has a 1-year low of $36.55 and a 1-year high of $68.07. The firm’s 50-day moving average is $60.56 and its 200-day moving average is $57.71.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $166.59 million during the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. Analysts forecast that Veeva Systems Inc. will post $0.87 earnings per share for the current fiscal year.
VEEV has been the subject of several research reports. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a research note on Tuesday, August 22nd. Stifel Nicolaus increased their price target on shares of Veeva Systems from $60.00 to $67.00 and gave the stock a “buy” rating in a research note on Saturday, May 27th. Bank of America Corporation upgraded shares of Veeva Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $48.00 to $70.00 in a research note on Friday, May 26th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target (up from $48.00) on shares of Veeva Systems in a research note on Sunday, May 28th. Finally, Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, May 31st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $64.77.
In other Veeva Systems news, CFO Timothy S. Cabral sold 40,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $58.82, for a total transaction of $2,352,800.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $1,764,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Matthew J. Wallach sold 24,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $62.82, for a total transaction of $1,507,680.00. Following the sale, the president now directly owns 24,000 shares of the company’s stock, valued at $1,507,680. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,865 shares of company stock valued at $15,729,842. Insiders own 17.50% 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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