FinTrust Capital Advisors LLC Lowers Holdings in Veeva Systems Inc. (NYSE:VEEV)
FinTrust Capital Advisors LLC trimmed its position in Veeva Systems Inc. (NYSE:VEEV) by 45.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182 shares of the technology company’s stock after selling 152 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Veeva Systems were worth $51,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Newfound Research LLC purchased a new stake in shares of Veeva Systems during the 3rd quarter worth $41,000. Jacobi Capital Management LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter worth $35,000. Freestone Capital Holdings LLC purchased a new stake in shares of Veeva Systems during the 3rd quarter worth $44,000. Ellevest Inc. lifted its stake in shares of Veeva Systems by 81.6% during the 3rd quarter. Ellevest Inc. now owns 178 shares of the technology company’s stock worth $50,000 after purchasing an additional 80 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV purchased a new stake in shares of Veeva Systems during the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 79.56% of the company’s stock.
In other Veeva Systems news, SVP Jonathan Faddis sold 5,000 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $276.53, for a total transaction of $1,382,650.00. Following the completion of the sale, the senior vice president now owns 5,576 shares of the company’s stock, valued at $1,541,931.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Alan Mateo sold 2,666 shares of Veeva Systems stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $295.11, for a total value of $786,763.26. Following the completion of the sale, the executive vice president now directly owns 13,831 shares of the company’s stock, valued at $4,081,666.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,128 shares of company stock valued at $6,748,344. 14.38% of the stock is owned by insiders.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, August 27th. The technology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.08. The company had revenue of $353.68 million during the quarter, compared to analysts’ expectations of $340.00 million. Veeva Systems had a return on equity of 15.77% and a net margin of 25.60%. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 1.82 EPS for the current year.
Several brokerages recently issued reports on VEEV. Raymond James upped their target price on Veeva Systems from $285.00 to $335.00 and gave the company an “outperform” rating in a research report on Monday, October 26th. JMP Securities upped their target price on Veeva Systems from $210.00 to $293.00 in a research report on Friday, August 28th. DA Davidson upped their target price on Veeva Systems from $235.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Stephens upped their target price on Veeva Systems from $290.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Finally, SVB Leerink upped their target price on Veeva Systems from $167.00 to $282.00 and gave the company a “market perform” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $275.28.
Veeva Systems Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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