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.

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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.

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

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