Raymond James & Associates Boosts Stake in Veeva Systems Inc (VEEV)

Raymond James & Associates lifted its position in Veeva Systems Inc (NYSE:VEEV) by 105.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,927 shares of the technology company’s stock after buying an additional 17,405 shares during the period. Raymond James & Associates’ holdings in Veeva Systems were worth $2,608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. We Are One Seven LLC raised its stake in shares of Veeva Systems by 147.6% in the 1st quarter. We Are One Seven LLC now owns 1,679 shares of the technology company’s stock worth $123,000 after buying an additional 1,001 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Veeva Systems in the 2nd quarter worth $169,000. Cerebellum GP LLC grew its holdings in shares of Veeva Systems by 1,645.0% in the 2nd quarter. Cerebellum GP LLC now owns 2,251 shares of the technology company’s stock worth $173,000 after acquiring an additional 2,122 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Veeva Systems in the 1st quarter worth $200,000. Finally, XR Securities LLC acquired a new position in shares of Veeva Systems in the 2nd quarter worth $215,000. 75.99% of the stock is currently owned by institutional investors.

In other news, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $101.49, for a total transaction of $5,074,500.00. Following the transaction, the chief financial officer now owns 30,000 shares in the company, valued at $3,044,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald E. F. Codd sold 10,000 shares of Veeva Systems stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $79.86, for a total value of $798,600.00. Following the transaction, the director now owns 19,680 shares in the company, valued at approximately $1,571,644.80. The disclosure for this sale can be found here. Insiders have sold 182,371 shares of company stock worth $17,173,180 in the last quarter. 15.97% of the stock is currently owned by corporate insiders.

Shares of VEEV stock opened at $98.04 on Monday. Veeva Systems Inc has a 1-year low of $52.17 and a 1-year high of $109.05. The firm has a market cap of $15.62 billion, a PE ratio of 106.57, a price-to-earnings-growth ratio of 5.14 and a beta of 1.54.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, August 23rd. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. Veeva Systems had a return on equity of 13.58% and a net margin of 21.23%. The business had revenue of $209.60 million for the quarter, compared to the consensus estimate of $203.50 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. Veeva Systems’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, analysts expect that Veeva Systems Inc will post 1.1 EPS for the current fiscal year.

A number of equities analysts recently issued reports on the company. Morgan Stanley lifted their target price on Veeva Systems from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a report on Wednesday, August 29th. Bank of America lifted their target price on Veeva Systems from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday. Guggenheim assumed coverage on Veeva Systems in a report on Tuesday, August 7th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, KeyCorp restated a “buy” rating on shares of Veeva Systems in a report on Thursday, August 23rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $98.47.

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

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