Advisors Asset Management Inc. Has $288,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Advisors Asset Management Inc. trimmed its position in Veeva Systems Inc. (NYSE:VEEVGet Rating) by 32.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,452 shares of the technology company’s stock after selling 697 shares during the quarter. Advisors Asset Management Inc.’s holdings in Veeva Systems were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in Veeva Systems by 41.9% during the 1st quarter. Principal Financial Group Inc. now owns 86,990 shares of the technology company’s stock valued at $18,481,000 after purchasing an additional 25,702 shares during the last quarter. Metis Global Partners LLC acquired a new position in Veeva Systems during the 2nd quarter valued at $217,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Veeva Systems by 8.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 102,478 shares of the technology company’s stock valued at $21,772,000 after purchasing an additional 7,718 shares during the last quarter. Artemis Investment Management LLP acquired a new position in Veeva Systems during the 2nd quarter valued at $816,000. Finally, Sequoia Financial Advisors LLC raised its stake in Veeva Systems by 30.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,327 shares of the technology company’s stock valued at $263,000 after purchasing an additional 309 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on VEEV shares. JPMorgan Chase & Co. upgraded shares of Veeva Systems from an “underweight” rating to a “neutral” rating and cut their target price for the company from $225.00 to $170.00 in a research note on Wednesday, October 19th. Guggenheim dropped their price objective on shares of Veeva Systems to $230.00 in a research note on Tuesday, September 6th. Raymond James increased their price objective on shares of Veeva Systems from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, September 1st. SVB Leerink dropped their price objective on shares of Veeva Systems from $268.00 to $242.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. Finally, Robert W. Baird dropped their price objective on shares of Veeva Systems from $250.00 to $233.00 in a research note on Monday, October 31st. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.74.

Veeva Systems Stock Up 0.2 %

Shares of NYSE:VEEV opened at $184.08 on Monday. Veeva Systems Inc. has a 12 month low of $151.02 and a 12 month high of $310.75. The company’s 50-day moving average price is $168.87 and its two-hundred day moving average price is $185.87. The firm has a market cap of $28.58 billion, a P/E ratio of 75.75, a P/E/G ratio of 4.40 and a beta of 0.81.

Veeva Systems (NYSE:VEEVGet Rating) last issued its quarterly earnings data on Wednesday, August 31st. The technology company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.11). Veeva Systems had a return on equity of 13.40% and a net margin of 19.67%. The company had revenue of $534.20 million for the quarter, compared to the consensus estimate of $530.70 million. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts predict that Veeva Systems Inc. will post 2.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Paul Edward Chamberlain sold 260 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $179.99, for a total transaction of $46,797.40. Following the transaction, the director now directly owns 16,443 shares in the company, valued at approximately $2,959,575.57. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Veeva Systems news, Director Paul Edward Chamberlain sold 260 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $179.99, for a total transaction of $46,797.40. Following the transaction, the director now directly owns 16,443 shares in the company, valued at approximately $2,959,575.57. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $169.49, for a total transaction of $1,694,900.00. Following the transaction, the director now owns 2,546 shares in the company, valued at $431,521.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,260 shares of company stock worth $5,096,397. Company insiders own 13.23% of the company’s stock.

About Veeva Systems

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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 software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

See Also

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

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