Axa boosted its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 12.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 283,065 shares of the technology company’s stock after acquiring an additional 31,951 shares during the period. Axa’s holdings in Veeva Systems were worth $45,887,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. First Command Financial Services Inc. acquired a new position in Veeva Systems during the second quarter worth about $32,000. Hanson McClain Inc. raised its position in Veeva Systems by 67.2% during the first quarter. Hanson McClain Inc. now owns 224 shares of the technology company’s stock worth $28,000 after acquiring an additional 90 shares during the last quarter. Machina Capital S.A.S. acquired a new position in Veeva Systems during the second quarter worth about $45,000. Commonwealth Bank of Australia raised its position in Veeva Systems by 71.2% during the second quarter. Commonwealth Bank of Australia now owns 291 shares of the technology company’s stock worth $45,000 after acquiring an additional 121 shares during the last quarter. Finally, Bremer Bank National Association acquired a new position in Veeva Systems during the first quarter worth about $44,000. Institutional investors own 77.17% of the company’s stock.
In related news, SVP Frederic Lequient sold 1,256 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.00, for a total value of $198,448.00. Following the completion of the sale, the senior vice president now directly owns 2,875 shares in the company, valued at $454,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Eleni Nitsa Zuppas sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $142.00, for a total transaction of $426,000.00. Following the completion of the sale, the chief marketing officer now owns 13,821 shares of the company’s stock, valued at $1,962,582. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,791 shares of company stock valued at $11,427,094. 14.38% of the stock is owned by insiders.
A number of equities analysts have issued reports on the stock. ValuEngine cut shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Stephens lifted their target price on shares of Veeva Systems from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Guggenheim lifted their target price on shares of Veeva Systems from $154.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Stifel Nicolaus lifted their target price on shares of Veeva Systems from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, JMP Securities boosted their price objective on shares of Veeva Systems from $153.00 to $172.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $167.06.
NYSE:VEEV opened at $142.90 on Friday. The firm has a 50 day simple moving average of $160.61 and a 200-day simple moving average of $147.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a market cap of $21.28 billion, a PE ratio of 115.24, a P/E/G ratio of 4.68 and a beta of 1.32. Veeva Systems Inc has a 1-year low of $79.26 and a 1-year high of $176.90.
Veeva Systems (NYSE:VEEV) last released its earnings results on Tuesday, August 27th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Veeva Systems had a net margin of 29.72% and a return on equity of 18.10%. The firm had revenue of $266.90 million during the quarter, compared to the consensus estimate of $259.35 million. During the same period in the previous year, the firm earned $0.39 earnings per share. Veeva Systems’s revenue was up 27.3% compared to the same quarter last year. As a group, sell-side analysts expect that Veeva Systems Inc will post 1.62 earnings per share for the current fiscal year.
Veeva Systems Company Profile
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, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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