Osterweis Capital Management Inc. Grows Position in Veeva Systems Inc. (VEEV)
Osterweis Capital Management Inc. boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,310 shares of the technology company’s stock after purchasing an additional 1,670 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Veeva Systems were worth $3,636,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. ETF Managers Group LLC purchased a new position in Veeva Systems during the 2nd quarter worth $101,000. Robeco Institutional Asset Management B.V. purchased a new position in Veeva Systems during the 2nd quarter worth $102,000. LS Investment Advisors LLC purchased a new position in Veeva Systems during the 2nd quarter worth $105,000. Huntington National Bank raised its position in Veeva Systems by 10.6% during the 2nd quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock worth $164,000 after buying an additional 256 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. raised its position in Veeva Systems by 460.0% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock worth $172,000 after buying an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 71.46% of the company’s stock.
In other Veeva Systems news, CFO Timothy S. Cabral sold 40,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $58.82, for a total value of $2,352,800.00. Following the sale, the chief financial officer now directly owns 30,000 shares in the company, valued at $1,764,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alan Mateo sold 528 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $58.74, for a total transaction of $31,014.72. Following the completion of the sale, the executive vice president now owns 6,985 shares in the company, valued at $410,298.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 305,640 shares of company stock worth $18,100,686. Company insiders own 19.17% of the company’s stock.
Shares of Veeva Systems Inc. (NYSE:VEEV) traded up 0.12% during trading on Friday, hitting $58.10. 803,738 shares of the stock were exchanged. The stock has a market cap of $8.17 billion, a P/E ratio of 74.30 and a beta of 1.62. The stock has a 50-day moving average of $57.98 and a 200 day moving average of $58.55. Veeva Systems Inc. has a 12-month low of $36.55 and a 12-month high of $68.07.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The business had revenue of $166.59 million for the quarter, compared to analysts’ expectations of $164.26 million. During the same period in the previous year, the business earned $0.15 earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. Equities analysts predict that Veeva Systems Inc. will post $0.87 earnings per share for the current fiscal year.
A number of equities analysts have commented on VEEV shares. BidaskClub upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Zacks Investment Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 27th. JMP Securities restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research report on Saturday, August 26th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research report on Friday, August 25th. Finally, Stifel Nicolaus restated a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a research report on Monday, July 10th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $65.82.
About Veeva Systems
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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