Next Century Growth Investors LLC trimmed its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,632 shares of the technology company’s stock after selling 142 shares during the quarter. Next Century Growth Investors LLC’s holdings in Veeva Systems were worth $1,129,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Veeva Systems by 0.4% during the second quarter. Vanguard Group Inc. now owns 12,544,865 shares of the technology company’s stock valued at $3,900,825,000 after purchasing an additional 52,479 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Veeva Systems by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,358,412 shares of the technology company’s stock valued at $2,706,032,000 after purchasing an additional 612,811 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Veeva Systems by 4.2% during the second quarter. Artisan Partners Limited Partnership now owns 6,609,878 shares of the technology company’s stock valued at $2,055,342,000 after purchasing an additional 265,091 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Veeva Systems by 4.8% during the first quarter. Franklin Resources Inc. now owns 3,067,016 shares of the technology company’s stock valued at $801,227,000 after purchasing an additional 139,672 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Veeva Systems by 18.6% during the second quarter. Geode Capital Management LLC now owns 1,928,524 shares of the technology company’s stock valued at $598,880,000 after purchasing an additional 301,868 shares in the last quarter. 77.78% of the stock is currently owned by institutional investors.
In other Veeva Systems news, CAO Michele O’connor sold 3,568 shares of the stock in a transaction dated Friday, September 3rd. The shares were sold at an average price of $318.80, for a total value of $1,137,478.40. Following the transaction, the chief accounting officer now directly owns 3,790 shares of the company’s stock, valued at approximately $1,208,252. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alan Mateo sold 2,347 shares of the stock in a transaction that occurred on Monday, October 11th. The stock was sold at an average price of $285.90, for a total transaction of $671,007.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,695 shares of company stock worth $5,203,115. Insiders own 13.18% of the company’s stock.
Shares of VEEV stock traded up $11.03 on Thursday, reaching $310.03. The stock had a trading volume of 10,135 shares, compared to its average volume of 805,781. The firm’s 50-day moving average is $308.15 and its two-hundred day moving average is $296.49. The firm has a market capitalization of $47.56 billion, a price-to-earnings ratio of 114.12, a P/E/G ratio of 6.74 and a beta of 0.73. Veeva Systems Inc. has a 12 month low of $235.74 and a 12 month high of $343.96.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, August 31st. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. The company had revenue of $455.59 million for the quarter, compared to analysts’ expectations of $450.93 million. Veeva Systems had a net margin of 25.51% and a return on equity of 16.35%. Veeva Systems’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. Research analysts forecast that Veeva Systems Inc. will post 2.47 earnings per share for the current year.
Veeva Systems Profile
Veeva Systems, Inc engages in the provision of industry cloud solutions for the global 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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