HMS Capital Management LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 15.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,929 shares of the technology company’s stock after buying an additional 927 shares during the period. Veeva Systems comprises about 0.8% of HMS Capital Management LLC’s holdings, making the stock its 27th largest position. HMS Capital Management LLC’s holdings in Veeva Systems were worth $1,809,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of VEEV. Captrust Financial Advisors raised its stake in Veeva Systems by 7.9% in the third quarter. Captrust Financial Advisors now owns 4,544 shares of the technology company’s stock valued at $1,259,000 after buying an additional 334 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Veeva Systems by 6.9% during the third quarter. Great West Life Assurance Co. Can now owns 100,532 shares of the technology company’s stock worth $28,273,000 after purchasing an additional 6,511 shares in the last quarter. Twinbeech Capital LP acquired a new stake in shares of Veeva Systems during the third quarter worth about $281,000. Public Employees Retirement System of Ohio increased its position in shares of Veeva Systems by 10.5% during the third quarter. Public Employees Retirement System of Ohio now owns 56,924 shares of the technology company’s stock worth $16,006,000 after purchasing an additional 5,414 shares in the last quarter. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Veeva Systems during the third quarter worth about $311,000. Institutional investors own 77.54% of the company’s stock.
A number of analysts have recently commented on the company. SVB Leerink lifted their target price on Veeva Systems from $282.00 to $294.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 9th. Truist lifted their target price on Veeva Systems from $320.00 to $355.00 in a research report on Wednesday, March 3rd. KeyCorp lifted their target price on Veeva Systems from $332.00 to $353.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 17th. DA Davidson lifted their target price on Veeva Systems from $325.00 to $350.00 in a research report on Wednesday, March 3rd. Finally, Raymond James restated a “buy” rating on shares of Veeva Systems in a research report on Wednesday, March 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. Veeva Systems presently has a consensus rating of “Buy” and an average price target of $299.04.
VEEV traded up $0.64 during trading on Monday, reaching $264.87. The company’s stock had a trading volume of 10,520 shares, compared to its average volume of 994,558. Veeva Systems Inc. has a 52-week low of $157.37 and a 52-week high of $325.54. The company’s fifty day moving average price is $267.84 and its 200-day moving average price is $279.08. The company has a market capitalization of $40.12 billion, a price-to-earnings ratio of 123.47, a price-to-earnings-growth ratio of 9.41 and a beta of 0.84.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Monday, March 1st. The technology company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.10. Veeva Systems had a return on equity of 15.73% and a net margin of 24.88%. The company had revenue of $396.80 million for the quarter, compared to analyst estimates of $380.20 million. During the same quarter in the previous year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. As a group, research analysts anticipate that Veeva Systems Inc. will post 1.95 EPS for the current year.
In other news, Director Paul Edward Chamberlain sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $255.37, for a total transaction of $25,537.00. Following the sale, the director now owns 15,750 shares of the company’s stock, valued at approximately $4,022,077.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 280 shares of the business’s stock in a transaction that occurred on Thursday, January 14th. The stock was sold at an average price of $281.61, for a total value of $78,850.80. Following the sale, the senior vice president now directly owns 1,980 shares in the company, valued at approximately $557,587.80. The disclosure for this sale can be found here. Insiders sold a total of 8,122 shares of company stock worth $2,203,599 in the last ninety days. 14.38% of the stock is owned by corporate insiders.
Veeva Systems Company Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; 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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