Atria Investments LLC Acquires New Position in Veeva Systems (VEEV)

Atria Investments LLC acquired a new stake in shares of Veeva Systems (NYSE:VEEV) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,804 shares of the technology company’s stock, valued at approximately $205,000.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Veeva Systems by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 295,438 shares of the technology company’s stock worth $16,666,000 after acquiring an additional 3,530 shares during the period. Bank of Montreal Can raised its position in Veeva Systems by 5.9% in the fourth quarter. Bank of Montreal Can now owns 54,355 shares of the technology company’s stock worth $3,005,000 after acquiring an additional 3,031 shares during the period. Wasatch Advisors Inc. bought a new position in Veeva Systems in the fourth quarter worth approximately $1,914,000. CrestPoint Capital Management LLC raised its position in Veeva Systems by 70.5% in the fourth quarter. CrestPoint Capital Management LLC now owns 16,200 shares of the technology company’s stock worth $896,000 after acquiring an additional 6,700 shares during the period. Finally, Gateway Investment Advisers LLC raised its position in Veeva Systems by 68.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 73,301 shares of the technology company’s stock worth $4,052,000 after acquiring an additional 29,907 shares during the period. Institutional investors own 73.28% of the company’s stock.

Several research firms have weighed in on VEEV. Zacks Investment Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 1st. ValuEngine upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. JMP Securities increased their price objective on shares of Veeva Systems from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 23rd. JPMorgan Chase & Co. cut shares of Veeva Systems from an “overweight” rating to a “neutral” rating in a research note on Friday, March 9th. Finally, KeyCorp reissued an “overweight” rating and issued a $81.00 price objective (up from $70.00) on shares of Veeva Systems in a research note on Friday, March 2nd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $72.23.

Veeva Systems opened at $76.76 on Thursday, according to Marketbeat. The firm has a market cap of $10.66 billion, a P/E ratio of 83.43, a P/E/G ratio of 4.54 and a beta of 1.40. Veeva Systems has a fifty-two week low of $52.17 and a fifty-two week high of $79.15.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $184.92 million during the quarter, compared to the consensus estimate of $180.13 million. Veeva Systems had a net margin of 20.71% and a return on equity of 11.89%. equities analysts predict that Veeva Systems will post 0.98 EPS for the current fiscal year.

In other Veeva Systems news, CFO Timothy S. Cabral sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $77.01, for a total value of $3,080,400.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $2,310,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy S. Cabral sold 25,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $76.54, for a total transaction of $1,913,500.00. Following the completion of the sale, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at $1,913,500. The disclosure for this sale can be found here. Insiders sold 169,733 shares of company stock valued at $12,965,920 over the last three months. 15.97% of the stock is currently owned by insiders.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.

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

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