Veeva Systems Inc. (VEEV) Position Increased by Scout Investments Inc.
Scout Investments Inc. increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 210,493 shares of the technology company’s stock after buying an additional 25,952 shares during the period. Scout Investments Inc. owned 151,761.36% of Veeva Systems worth $11,874,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ETF Managers Group LLC bought a new stake in shares of Veeva Systems during the 2nd quarter worth $101,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Veeva Systems during the 2nd quarter worth $102,000. LS Investment Advisors LLC bought a new stake in shares of Veeva Systems during the 2nd quarter worth $105,000. Huntington National Bank boosted its holdings in shares of Veeva Systems by 10.6% during the 2nd quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock worth $164,000 after buying an additional 256 shares during the period. Finally, C M Bidwell & Associates Ltd. boosted its holdings in shares of Veeva Systems by 460.0% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock worth $172,000 after buying an additional 2,300 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Timothy S. Cabral sold 40,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $58.82, for a total transaction of $2,352,800.00. Following the completion of the sale, the chief financial officer now owns 30,000 shares in the company, valued at approximately $1,764,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy S. Cabral sold 8,750 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $57.24, for a total transaction of $500,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,725 shares of company stock valued at $15,894,780. Corporate insiders own 19.17% of the company’s stock.
Veeva Systems Inc. (VEEV) opened at $61.47 on Friday. Veeva Systems Inc. has a one year low of $39.10 and a one year high of $68.07. The stock has a market cap of $8,402.45, a price-to-earnings ratio of 102.68, a PEG ratio of 4.96 and a beta of 1.64.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The company had revenue of $166.59 million during the quarter, compared to analysts’ expectations of $164.26 million. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue was up 26.8% on a year-over-year basis. equities research analysts forecast that Veeva Systems Inc. will post 0.65 earnings per share for the current year.
A number of brokerages have weighed in on VEEV. BidaskClub downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Wednesday, October 11th. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 price target on shares of Veeva Systems in a report on Friday, October 13th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a report on Tuesday, August 22nd. Finally, Needham & Company LLC reissued a “buy” rating on shares of Veeva Systems in a report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $65.75.
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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