Profund Advisors LLC decreased its position in shares of Veeva Systems Inc (NYSE:VEEV) by 10.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 26,108 shares of the technology company’s stock after selling 2,970 shares during the period. Profund Advisors LLC’s holdings in Veeva Systems were worth $3,672,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lenox Wealth Advisors LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $25,000. Vigilant Capital Management LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $28,000. Orion Portfolio Solutions LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $32,000. Allred Capital Management LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $33,000. Finally, Lighthouse Financial Advisors Inc. purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $34,000. 78.39% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on VEEV. Deutsche Bank reduced their price objective on shares of Veeva Systems from $160.00 to $150.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. They noted that the move was a valuation call. Piper Sandler initiated coverage on shares of Veeva Systems in a research note on Friday, February 14th. They set an “overweight” rating and a $188.00 price target on the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $165.00 price target on shares of Veeva Systems in a research note on Wednesday, March 4th. Bank of America reaffirmed a “buy” rating and set a $180.00 price target (down previously from $192.00) on shares of Veeva Systems in a research note on Wednesday, March 4th. Finally, SunTrust Banks cut their price target on shares of Veeva Systems from $175.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $176.15.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, March 3rd. The technology company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The business had revenue of $311.50 million during the quarter, compared to analyst estimates of $298.00 million. Veeva Systems had a net margin of 27.27% and a return on equity of 16.96%. The business’s revenue was up 34.1% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. On average, sell-side analysts anticipate that Veeva Systems Inc will post 1.79 earnings per share for the current fiscal year.
In other Veeva Systems news, SVP Jonathan Faddis sold 1,166 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $142.00, for a total transaction of $165,572.00. Following the completion of the transaction, the senior vice president now directly owns 1,966 shares of the company’s stock, valued at approximately $279,172. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 464 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $141.16, for a total transaction of $65,498.24. Following the transaction, the chief financial officer now directly owns 2,344 shares of the company’s stock, valued at $330,879.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,097 shares of company stock valued at $2,761,836. Company insiders own 14.38% of the company’s stock.
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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