Lake Street Financial LLC purchased a new position in Veeva Systems Inc (NYSE:VEEV) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,955 shares of the technology company’s stock, valued at approximately $248,000.
Other institutional investors also recently bought and sold shares of the company. DNB Asset Management AS lifted its position in Veeva Systems by 96.0% in the 1st quarter. DNB Asset Management AS now owns 23,129 shares of the technology company’s stock valued at $2,934,000 after acquiring an additional 11,329 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Veeva Systems by 15.3% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 37,335 shares of the technology company’s stock valued at $4,736,000 after acquiring an additional 4,945 shares in the last quarter. Global Trust Asset Management LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at $292,000. New England Research & Management Inc. bought a new position in shares of Veeva Systems during the 1st quarter valued at $235,000. Finally, First Hawaiian Bank lifted its holdings in shares of Veeva Systems by 270.3% during the 1st quarter. First Hawaiian Bank now owns 17,295 shares of the technology company’s stock valued at $2,194,000 after buying an additional 12,625 shares during the period. Institutional investors own 78.45% of the company’s stock.
In other Veeva Systems news, Director Timothy C. Barabe sold 727 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $127.41, for a total value of $92,627.07. Following the completion of the sale, the director now owns 8,619 shares in the company, valued at approximately $1,098,146.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alan Mateo sold 622 shares of the stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $97.61, for a total value of $60,713.42. Following the completion of the sale, the executive vice president now owns 26,379 shares of the company’s stock, valued at approximately $2,574,854.19. The disclosure for this sale can be found here. Insiders sold a total of 111,555 shares of company stock valued at $12,766,797 in the last quarter. 15.97% of the stock is currently owned by company insiders.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, February 26th. The technology company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. Veeva Systems had a return on equity of 16.91% and a net margin of 26.66%. The company had revenue of $232.32 million for the quarter, compared to analysts’ expectations of $227.15 million. During the same period last year, the firm earned $0.23 EPS. Veeva Systems’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Veeva Systems Inc will post 1.53 EPS for the current fiscal year.
Several equities analysts have recently weighed in on VEEV shares. SunTrust Banks increased their price target on Veeva Systems to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. DA Davidson increased their price target on Veeva Systems to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $135.00 price target (up from $110.00) on shares of Veeva Systems in a report on Wednesday, February 27th. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Saturday, February 9th. Finally, Stephens started coverage on Veeva Systems in a report on Wednesday, January 16th. They set an “equal weight” rating and a $113.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $117.65.
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About Veeva Systems
Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.
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