Rockefeller Capital Management L.P. purchased a new position in shares of Veeva Systems Inc (NYSE:VEEV) in the 3rd quarter, HoldingsChannel reports. The firm purchased 1,227 shares of the technology company’s stock, valued at approximately $134,000.
Other large investors also recently made changes to their positions in the company. Global Trust Asset Management LLC acquired a new position in shares of Veeva Systems during the third quarter worth $163,000. Parallel Advisors LLC acquired a new stake in Veeva Systems in the third quarter valued at $198,000. Flagship Harbor Advisors LLC acquired a new stake in Veeva Systems in the second quarter valued at $149,000. Jaffetilchin Investment Partners LLC acquired a new stake in Veeva Systems in the third quarter valued at $223,000. Finally, Private Advisor Group LLC acquired a new stake in Veeva Systems in the third quarter valued at $230,000. Institutional investors own 75.37% of the company’s stock.
In other news, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $101.49, for a total transaction of $5,074,500.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $3,044,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 3,000 shares of Veeva Systems stock in a transaction on Monday, August 27th. The stock was sold at an average price of $101.48, for a total transaction of $304,440.00. Following the sale, the senior vice president now directly owns 5,211 shares of the company’s stock, valued at $528,812.28. The disclosure for this sale can be found here. Insiders have sold a total of 172,476 shares of company stock worth $16,528,424 in the last three months. Insiders own 15.97% of the company’s stock.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, August 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05. The company had revenue of $209.60 million for the quarter, compared to analysts’ expectations of $203.50 million. Veeva Systems had a net margin of 21.23% and a return on equity of 13.58%. The business’s revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 EPS. Sell-side analysts predict that Veeva Systems Inc will post 1.1 earnings per share for the current year.
A number of research firms recently weighed in on VEEV. Canaccord Genuity downgraded Veeva Systems from a “buy” rating to a “hold” rating and increased their price objective for the company from $98.00 to $105.00 in a report on Monday, October 1st. Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 price target for the company in a report on Wednesday, August 29th. ValuEngine upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Bank of America increased their price target on Veeva Systems from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Finally, Needham & Company LLC increased their price target on Veeva Systems from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $99.07.
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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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