New England Research & Management Inc. Grows Stock Position in Veeva Systems Inc (NYSE:VEEV)

New England Research & Management Inc. lifted its stake in Veeva Systems Inc (NYSE:VEEV) by 102.8% in the fourth quarter, HoldingsChannel reports. The firm owned 3,650 shares of the technology company’s stock after acquiring an additional 1,850 shares during the quarter. New England Research & Management Inc.’s holdings in Veeva Systems were worth $513,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Veeva Systems by 1.3% in the second quarter. Vanguard Group Inc. now owns 12,120,296 shares of the technology company’s stock valued at $1,964,821,000 after purchasing an additional 156,746 shares during the period. BlackRock Inc. lifted its holdings in Veeva Systems by 16.3% during the 2nd quarter. BlackRock Inc. now owns 8,770,784 shares of the technology company’s stock worth $1,421,833,000 after buying an additional 1,231,904 shares during the last quarter. State Street Corp lifted its holdings in Veeva Systems by 1.3% during the 3rd quarter. State Street Corp now owns 2,836,449 shares of the technology company’s stock worth $433,097,000 after buying an additional 35,850 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Veeva Systems by 41.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,958,283 shares of the technology company’s stock worth $311,054,000 after buying an additional 569,097 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Veeva Systems by 0.4% during the 2nd quarter. Bank of America Corp DE now owns 1,413,239 shares of the technology company’s stock worth $229,102,000 after buying an additional 6,172 shares during the last quarter. Hedge funds and other institutional investors own 77.42% of the company’s stock.

A number of analysts have issued reports on the company. ValuEngine downgraded Veeva Systems from a “hold” rating to a “sell” rating in a report on Wednesday, December 11th. Barclays lifted their price target on Veeva Systems from $165.00 to $176.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. SunTrust Banks set a $180.00 price target on Veeva Systems and gave the stock a “buy” rating in a report on Friday, September 27th. Canaccord Genuity lifted their price target on Veeva Systems from $155.00 to $165.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Evercore ISI reaffirmed a “hold” rating and set a $170.00 price target on shares of Veeva Systems in a report on Thursday, November 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $174.28.

In related news, CMO Eleni Nitsa Zuppas sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $146.72, for a total value of $440,160.00. Following the transaction, the chief marketing officer now owns 14,789 shares in the company, valued at approximately $2,169,842.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy S. Cabral sold 464 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $141.16, for a total value of $65,498.24. Following the completion of the transaction, the chief financial officer now owns 2,344 shares in the company, valued at approximately $330,879.04. The disclosure for this sale can be found here. Insiders have sold 37,634 shares of company stock worth $5,440,918 in the last quarter. Insiders own 14.38% of the company’s stock.

Shares of VEEV traded down $0.88 during midday trading on Tuesday, reaching $147.78. 1,299,109 shares of the stock were exchanged, compared to its average volume of 1,479,965. The business’s 50-day moving average price is $144.71 and its 200 day moving average price is $153.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.40 and a quick ratio of 5.40. Veeva Systems Inc has a twelve month low of $97.60 and a twelve month high of $176.90. The company has a market capitalization of $21.62 billion, a price-to-earnings ratio of 119.18, a PEG ratio of 4.05 and a beta of 1.17.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, November 26th. The technology company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.19. Veeva Systems had a return on equity of 17.56% and a net margin of 29.86%. The business had revenue of $280.90 million for the quarter, compared to analysts’ expectations of $274.81 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts expect that Veeva Systems Inc will post 1.64 earnings per share for the current fiscal year.

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

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