Alps Advisors Inc. lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 21.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,209 shares of the technology company’s stock after selling 2,178 shares during the quarter. Alps Advisors Inc.’s holdings in Veeva Systems were worth $463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. QS Investors LLC raised its position in Veeva Systems by 0.5% in the 2nd quarter. QS Investors LLC now owns 3,832 shares of the technology company’s stock valued at $235,000 after buying an additional 19 shares during the last quarter. Huntington National Bank raised its position in Veeva Systems by 10.6% in the 2nd quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock valued at $164,000 after buying an additional 256 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Veeva Systems by 1.6% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 20,863 shares of the technology company’s stock valued at $1,279,000 after buying an additional 326 shares during the last quarter. World Asset Management Inc raised its position in Veeva Systems by 8.4% in the 2nd quarter. World Asset Management Inc now owns 4,846 shares of the technology company’s stock valued at $297,000 after buying an additional 374 shares during the last quarter. Finally, Comerica Bank raised its position in Veeva Systems by 14.0% in the 2nd quarter. Comerica Bank now owns 4,339 shares of the technology company’s stock valued at $285,000 after buying an additional 534 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Veeva Systems Inc. (NYSE VEEV) opened at $61.96 on Tuesday. The firm has a market capitalization of $8,478.73, a P/E ratio of 103.61, a price-to-earnings-growth ratio of 5.01 and a beta of 1.64. Veeva Systems Inc. has a one year low of $40.50 and a one year high of $68.07.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Veeva Systems had a return on equity of 12.77% and a net margin of 18.98%. The company had revenue of $166.59 million during the quarter, compared to the consensus estimate of $164.26 million. During the same period in the previous year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. equities analysts forecast that Veeva Systems Inc. will post 0.65 EPS for the current fiscal year.

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VEEV has been the topic of a number of recent research reports. Zacks Investment Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub lowered Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 14th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research report on Friday, August 25th. KeyCorp reissued a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research report on Friday, August 25th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research report on Tuesday, August 22nd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $65.75.

In related news, EVP Alan Mateo sold 528 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $58.74, for a total value of $31,014.72. Following the completion of the sale, the executive vice president now directly owns 6,985 shares in the company, valued at approximately $410,298.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gordon Ritter sold 5,100 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $54.55, for a total value of $278,205.00. The disclosure for this sale can be found here. Insiders have sold a total of 297,300 shares of company stock valued at $17,247,550 over the last quarter. 17.50% of the stock is currently owned by corporate insiders.

Veeva Systems 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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