Rovin Capital UT ADV boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 22.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,792 shares of the technology company's stock after purchasing an additional 521 shares during the quarter. Rovin Capital UT ADV's holdings in Veeva Systems were worth $553,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in VEEV. Vanguard Group Inc. boosted its position in shares of Veeva Systems by 1.0% in the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company's stock valued at $2,738,229,000 after acquiring an additional 132,560 shares during the period. BlackRock Inc. boosted its position in shares of Veeva Systems by 11.7% in the first quarter. BlackRock Inc. now owns 9,887,733 shares of the technology company's stock valued at $2,100,748,000 after acquiring an additional 1,036,905 shares during the period. Wellington Management Group LLP boosted its position in shares of Veeva Systems by 1,578.4% in the first quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company's stock valued at $319,616,000 after acquiring an additional 1,414,726 shares during the period. Winslow Capital Management LLC boosted its position in shares of Veeva Systems by 26.5% in the first quarter. Winslow Capital Management LLC now owns 1,295,474 shares of the technology company's stock valued at $275,237,000 after acquiring an additional 271,330 shares during the period. Finally, Norges Bank bought a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $312,407,000. Institutional investors own 80.14% of the company's stock.
Get Veeva Systems alerts:Insider Activity at Veeva Systems
In related news, Director Matthew J. Wallach sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $169.27, for a total transaction of $1,692,700.00. Following the completion of the sale, the director now directly owns 2,546 shares of the company's stock, valued at $430,961.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $169.27, for a total value of $1,692,700.00. Following the completion of the sale, the director now directly owns 2,546 shares of the company's stock, valued at $430,961.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 260 shares of the firm's stock in a transaction on Monday, September 12th. The stock was sold at an average price of $179.99, for a total value of $46,797.40. Following the completion of the sale, the director now directly owns 16,443 shares of the company's stock, valued at $2,959,575.57. The disclosure for this sale can be found here. 13.23% of the stock is currently owned by company insiders.
Veeva Systems Stock Up 0.0 %
NYSE:VEEV traded up $0.07 on Friday, hitting $164.88. The stock had a trading volume of 813,955 shares, compared to its average volume of 1,025,869. The business's fifty day moving average is $197.34 and its 200 day moving average is $192.45. The company has a market cap of $25.60 billion, a PE ratio of 67.85, a P/E/G ratio of 3.90 and a beta of 0.76. Veeva Systems Inc. has a 52 week low of $152.04 and a 52 week high of $327.78.Veeva Systems (NYSE:VEEV – Get Rating) last announced its quarterly earnings results on Wednesday, August 31st. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. The business had revenue of $534.20 million for the quarter, compared to analyst estimates of $530.70 million. Veeva Systems had a return on equity of 13.40% and a net margin of 19.67%. The company's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities analysts predict that Veeva Systems Inc. will post 2.55 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently weighed in on VEEV. Raymond James increased their price objective on Veeva Systems from $205.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, September 1st. Stifel Nicolaus upped their target price on Veeva Systems from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Wednesday, June 29th. Guggenheim cut their target price on Veeva Systems to $230.00 in a research note on Tuesday, September 6th. The Goldman Sachs Group cut their target price on Veeva Systems to $235.00 in a research note on Tuesday, September 6th. Finally, KeyCorp assumed coverage on Veeva Systems in a research note on Thursday, September 15th. They set an "overweight" rating and a $220.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of "Moderate Buy" and an average price target of $223.05.
Veeva Systems Company Profile
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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 software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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