Schwab Charles Investment Management Inc. increased its holdings in Veeva Systems Inc (NYSE:VEEV) by 10.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 368,354 shares of the technology company’s stock after buying an additional 35,626 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Veeva Systems were worth $20,363,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VEEV. State Street Corp raised its holdings in Veeva Systems by 52.1% in the 2nd quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock worth $113,851,000 after purchasing an additional 635,842 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Veeva Systems by 21.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,131 shares of the technology company’s stock worth $315,000 after purchasing an additional 914 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Veeva Systems in the 2nd quarter worth about $1,001,000. Verition Fund Management LLC acquired a new position in Veeva Systems in the 2nd quarter worth about $319,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Veeva Systems by 5.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 100,659 shares of the technology company’s stock worth $6,171,000 after purchasing an additional 4,809 shares during the period. 69.55% of the stock is owned by institutional investors.
Veeva Systems Inc (VEEV) opened at $59.76 on Tuesday. Veeva Systems Inc has a fifty-two week low of $41.30 and a fifty-two week high of $68.07. The company has a market capitalization of $8,450.00, a P/E ratio of 65.67, a price-to-earnings-growth ratio of 6.17 and a beta of 1.66.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, December 5th. The technology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The business had revenue of $176.10 million during the quarter, compared to analysts’ expectations of $171.99 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year. research analysts anticipate that Veeva Systems Inc will post 0.68 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the company. Vetr raised Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price target for the company in a report on Thursday, February 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a report on Wednesday, December 6th. DA Davidson assumed coverage on Veeva Systems in a report on Friday, February 2nd. They issued a “buy” rating and a $75.00 price target for the company. Zacks Investment Research cut Veeva Systems from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, Morgan Stanley raised Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $67.54.
In other Veeva Systems news, Director Paul J. Sekhri sold 10,971 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $53.83, for a total transaction of $590,568.93. Following the completion of the transaction, the director now owns 27,438 shares of the company’s stock, valued at $1,476,987.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Matthew J. Wallach sold 24,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $57.36, for a total value of $1,376,640.00. Following the completion of the sale, the president now owns 24,000 shares of the company’s stock, valued at $1,376,640. The disclosure for this sale can be found here. Insiders have sold 166,417 shares of company stock valued at $9,502,103 in the last three months. Insiders own 17.50% of the company’s stock.
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.
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