Veeva Systems Inc. (VEEV) Holdings Boosted by Advisor Group Inc.

Advisor Group Inc. raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 44.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,785 shares of the technology company’s stock after purchasing an additional 2,073 shares during the period. Advisor Group Inc.’s holdings in Veeva Systems were worth $415,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in VEEV. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $102,000. LS Investment Advisors LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $105,000. Huntington National Bank boosted its holdings in shares of Veeva Systems by 10.6% in the second quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock valued at $164,000 after acquiring an additional 256 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in shares of Veeva Systems by 77.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,952 shares of the technology company’s stock valued at $181,000 after acquiring an additional 1,286 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $193,000. Institutional investors own 71.46% of the company’s stock.

In other news, Director Ronald E. F. Codd sold 2,000 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $57.47, for a total value of $114,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Matthew J. Wallach sold 24,000 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $63.15, for a total value of $1,515,600.00. Following the completion of the sale, the president now owns 24,000 shares of the company’s stock, valued at approximately $1,515,600. The disclosure for this sale can be found here. Insiders have sold a total of 290,340 shares of company stock valued at $17,151,474 in the last quarter. 17.50% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY WARNING: “Veeva Systems Inc. (VEEV) Holdings Boosted by Advisor Group Inc.” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/10/veeva-systems-inc-veev-holdings-boosted-by-advisor-group-inc.html.

Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 58.10 on Tuesday. The firm has a 50-day moving average price of $57.84 and a 200-day moving average price of $58.75. The firm has a market cap of $8.17 billion, a P/E ratio of 74.30 and a beta of 1.63. Veeva Systems Inc. has a 12-month low of $36.55 and a 12-month high of $68.07.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $164.26 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. On average, equities research analysts expect that Veeva Systems Inc. will post $0.87 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Saturday, August 26th. BidaskClub downgraded Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Tuesday, August 22nd. KeyCorp reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Friday, August 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $67.00 price objective on shares of Veeva Systems in a report on Monday, July 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Veeva Systems currently has an average rating of “Buy” and a consensus price target of $65.82.

Veeva Systems Profile

A number of other institutional investors also recently made changes to their positions in VEEV. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $102,000. LS Investment Advisors LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $105,000. Huntington National Bank boosted its holdings in shares of Veeva Systems by 10.6% in the second quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock valued at $164,000 after acquiring an additional 256 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in shares of Veeva Systems by 77.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,952 shares of the technology company’s stock valued at $181,000 after acquiring an additional 1,286 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $193,000. Institutional investors own 71.46% of the company’s stock.

In other news, Director Ronald E. F. Codd sold 2,000 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $57.47, for a total value of $114,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Matthew J. Wallach sold 24,000 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $63.15, for a total value of $1,515,600.00. Following the completion of the sale, the president now owns 24,000 shares of the company’s stock, valued at approximately $1,515,600. The disclosure for this sale can be found here. Insiders have sold a total of 290,340 shares of company stock valued at $17,151,474 in the last quarter. 17.50% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY WARNING: “Veeva Systems Inc. (VEEV) Holdings Boosted by Advisor Group Inc.” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/10/veeva-systems-inc-veev-holdings-boosted-by-advisor-group-inc.html.

Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 58.10 on Tuesday. The firm has a 50-day moving average price of $57.84 and a 200-day moving average price of $58.75. The firm has a market cap of $8.17 billion, a P/E ratio of 74.30 and a beta of 1.63. Veeva Systems Inc. has a 12-month low of $36.55 and a 12-month high of $68.07.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $164.26 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. On average, equities research analysts expect that Veeva Systems Inc. will post $0.87 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Saturday, August 26th. BidaskClub downgraded Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Tuesday, August 22nd. KeyCorp reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Friday, August 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $67.00 price objective on shares of Veeva Systems in a report on Monday, July 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Veeva Systems currently has an average rating of “Buy” and a consensus price target of $65.82.

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.

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV).

Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

Receive News & Ratings for Veeva Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.