Oregon Public Employees Retirement Fund lessened its stake in Veeva Systems Inc (NYSE:VEEV) by 56.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,110 shares of the technology company’s stock after selling 24,943 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Veeva Systems were worth $2,688,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lenox Wealth Advisors LLC bought a new position in Veeva Systems during the 4th quarter valued at approximately $25,000. Endurance Wealth Management Inc. bought a new position in Veeva Systems during the 3rd quarter valued at approximately $27,000. Vigilant Capital Management LLC bought a new position in Veeva Systems during the 4th quarter valued at approximately $28,000. Allred Capital Management LLC bought a new position in Veeva Systems during the 4th quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC bought a new position in Veeva Systems during the 3rd quarter valued at approximately $35,000. 77.51% of the stock is owned by institutional investors.
Shares of NYSE:VEEV opened at $158.87 on Friday. Veeva Systems Inc has a 52-week low of $110.23 and a 52-week high of $176.90. The firm has a market capitalization of $23.61 billion, a P/E ratio of 81.89, a P/E/G ratio of 3.64 and a beta of 1.23. The stock has a 50 day moving average price of $146.34 and a 200-day moving average price of $150.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.40 and a current ratio of 5.40.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, November 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.19. The firm had revenue of $280.90 million during the quarter, compared to analyst estimates of $274.81 million. Veeva Systems had a return on equity of 17.56% and a net margin of 29.86%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, equities analysts forecast that Veeva Systems Inc will post 1.64 EPS for the current fiscal year.
A number of research analysts have commented on the company. Evercore ISI reaffirmed a “hold” rating and set a $170.00 price target on shares of Veeva Systems in a research report on Thursday, November 28th. Barclays upped their price target on Veeva Systems from $165.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Deutsche Bank decreased their target price on Veeva Systems from $160.00 to $150.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. They noted that the move was a valuation call. Stephens reissued a “buy” rating and issued a $185.00 target price on shares of Veeva Systems in a research report on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $187.00 target price on shares of Veeva Systems in a research report on Monday, November 25th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $177.72.
In related news, CFO Timothy S. Cabral sold 464 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $141.16, for a total value of $65,498.24. Following the sale, the chief financial officer now owns 2,344 shares in the company, valued at approximately $330,879.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Eleni Nitsa Zuppas sold 264 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $140.44, for a total value of $37,076.16. Following the completion of the sale, the chief marketing officer now owns 13,654 shares in the company, valued at approximately $1,917,567.76. The disclosure for this sale can be found here. Insiders sold a total of 34,255 shares of company stock worth $4,978,719 in the last 90 days. 14.38% of the stock is currently owned by company insiders.
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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