Nicholas Company Inc. decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,815 shares of the technology company’s stock after selling 7,245 shares during the quarter. Nicholas Company Inc. owned about 0.07% of Veeva Systems worth $5,629,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $102,000. LS Investment Advisors LLC bought a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $105,000. Huntington National Bank grew 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 valued at $164,000 after buying an additional 256 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $193,000. Finally, BNP Paribas Arbitrage SA grew 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 valued at $195,000 after buying an additional 2,192 shares in the last quarter. 71.51% of the stock is owned by institutional investors and hedge funds.
Veeva Systems Inc. (NYSE:VEEV) opened at 55.74 on Friday. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 71.28 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 price is $60.77 and its 200 day moving average price is $57.43.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The firm had revenue of $166.59 million during the quarter, compared to analysts’ expectations of $164.26 million. Veeva Systems had a return on equity of 12.77% and a net margin of 18.98%. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. On average, analysts predict that Veeva Systems Inc. will post $0.87 EPS for the current year.
A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub cut Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 target price (up previously from $48.00) on shares of Veeva Systems in a research report on Friday, May 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Friday, August 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research report on Monday, July 10th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $64.77.
In related news, CFO Timothy S. Cabral sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $58.82, for a total transaction of $2,352,800.00. Following the sale, the chief financial officer now owns 30,000 shares in the company, valued at approximately $1,764,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy S. Cabral sold 8,750 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $57.24, for a total value of $500,850.00. The disclosure for this sale can be found here. Insiders sold a total of 258,865 shares of company stock valued at $15,729,842 over the last ninety days. Insiders own 19.17% 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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