AHL Partners LLP lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 11.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,750 shares of the technology company’s stock after selling 2,678 shares during the period. AHL Partners LLP’s holdings in Veeva Systems were worth $1,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QS Investors LLC lifted its position in Veeva Systems by 0.5% during the second quarter. QS Investors LLC now owns 3,832 shares of the technology company’s stock valued at $235,000 after purchasing an additional 19 shares in the last quarter. Alps Advisors Inc. lifted its position in Veeva Systems by 0.3% during the second quarter. Alps Advisors Inc. now owns 10,387 shares of the technology company’s stock valued at $637,000 after purchasing an additional 27 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Veeva Systems by 2.9% during the first quarter. Teacher Retirement System of Texas now owns 7,125 shares of the technology company’s stock valued at $365,000 after purchasing an additional 204 shares in the last quarter. Creative Planning lifted its position in Veeva Systems by 1.5% during the second quarter. Creative Planning now owns 15,422 shares of the technology company’s stock valued at $946,000 after purchasing an additional 232 shares in the last quarter. Finally, Huntington National Bank lifted its position in Veeva Systems by 10.6% during the second quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock valued at $164,000 after purchasing an additional 256 shares in the last quarter. 71.46% of the stock is owned by institutional investors.

Veeva Systems Inc. (NYSE VEEV) opened at 58.93 on Friday. The stock has a market capitalization of $8.29 billion, a P/E ratio of 75.36 and a beta of 1.62. Veeva Systems Inc. has a 12 month low of $37.34 and a 12 month high of $68.07. The stock has a 50 day moving average price of $57.16 and a 200 day moving average price of $58.91.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The business had revenue of $166.59 million for the quarter, compared to analyst estimates of $164.26 million. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. Equities analysts predict that Veeva Systems Inc. will post $0.87 EPS for the current fiscal year.

In other news, Director Gordon Ritter sold 5,100 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $56.85, for a total transaction of $289,935.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alan Mateo sold 8,025 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $62.89, for a total transaction of $504,692.25. Following the sale, the executive vice president now directly owns 14,010 shares in the company, valued at $881,088.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,612 shares of company stock worth $15,873,361. Corporate insiders own 19.17% of the company’s stock.

Several equities analysts recently weighed in on VEEV shares. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research report on Monday, July 10th. Needham & Company LLC reiterated a “buy” rating on shares of Veeva Systems in a research report on Thursday. Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Wednesday. BidaskClub downgraded Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 14th. Finally, JMP Securities reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Saturday, August 26th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $65.75.

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About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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

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