Xact Kapitalforvaltning AB increased its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,061 shares of the technology company’s stock after buying an additional 1,296 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Veeva Systems were worth $998,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Great West Life Assurance Co. Can grew its holdings in Veeva Systems by 2.6% during the third quarter. Great West Life Assurance Co. Can now owns 34,106 shares of the technology company’s stock worth $1,922,000 after buying an additional 865 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Veeva Systems by 21.7% during the second quarter. The Manufacturers Life Insurance Company now owns 5,131 shares of the technology company’s stock worth $315,000 after buying an additional 914 shares in the last quarter. LPL Financial LLC grew its holdings in Veeva Systems by 5.8% during the fourth quarter. LPL Financial LLC now owns 20,166 shares of the technology company’s stock worth $1,115,000 after buying an additional 1,111 shares in the last quarter. Amalgamated Bank grew its holdings in Veeva Systems by 5.8% during the fourth quarter. Amalgamated Bank now owns 21,722 shares of the technology company’s stock worth $1,201,000 after buying an additional 1,199 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in Veeva Systems by 11.2% during the fourth quarter. Aperio Group LLC now owns 13,449 shares of the technology company’s stock worth $743,000 after buying an additional 1,356 shares in the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.
In other news, CFO Timothy S. Cabral sold 40,000 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $77.01, for a total transaction of $3,080,400.00. Following the transaction, the chief financial officer now owns 30,000 shares of the company’s stock, valued at approximately $2,310,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Frederic Lequient sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $62.00, for a total value of $930,000.00. Following the transaction, the senior vice president now directly owns 15,000 shares in the company, valued at approximately $930,000. The disclosure for this sale can be found here. In the last three months, insiders sold 210,831 shares of company stock worth $14,947,742. Insiders own 19.17% of the company’s stock.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, February 27th. The technology company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Veeva Systems had a return on equity of 12.30% and a net margin of 20.71%. The business had revenue of $184.92 million for the quarter, compared to analysts’ expectations of $180.13 million. equities analysts expect that Veeva Systems Inc will post 0.98 EPS for the current year.
Several equities research analysts recently issued reports on VEEV shares. Canaccord Genuity reiterated a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a report on Wednesday, December 6th. DA Davidson started coverage on Veeva Systems in a report on Friday, February 2nd. They set a “buy” rating and a $75.00 price target for the company. Stifel Nicolaus upped their price target on Veeva Systems from $67.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Vetr downgraded Veeva Systems from a “buy” rating to a “hold” rating and set a $61.05 price target for the company. in a report on Thursday, February 15th. Finally, JPMorgan Chase cut Veeva Systems from an “overweight” rating to a “neutral” rating in a research report on Friday, March 9th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Veeva Systems has a consensus rating of “Buy” and an average target price of $72.23.
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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