Algert Global LLC decreased its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 74.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,018 shares of the technology company’s stock after selling 17,293 shares during the quarter. Algert Global LLC’s holdings in Veeva Systems were worth $655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of VEEV. Aperio Group LLC boosted its position in Veeva Systems by 10.1% during the second quarter. Aperio Group LLC now owns 15,613 shares of the technology company’s stock valued at $1,200,000 after purchasing an additional 1,431 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Veeva Systems by 82.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 55,799 shares of the technology company’s stock valued at $4,289,000 after purchasing an additional 25,154 shares during the last quarter. Alps Advisors Inc. boosted its position in Veeva Systems by 15.4% during the second quarter. Alps Advisors Inc. now owns 8,209 shares of the technology company’s stock valued at $454,000 after purchasing an additional 1,093 shares during the last quarter. TD Asset Management Inc. boosted its position in Veeva Systems by 98.4% during the second quarter. TD Asset Management Inc. now owns 103,975 shares of the technology company’s stock valued at $7,992,000 after purchasing an additional 51,565 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Veeva Systems by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 357,679 shares of the technology company’s stock valued at $27,491,000 after purchasing an additional 33,713 shares during the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.

In related news, CFO Timothy S. Cabral sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $103.08, for a total transaction of $2,577,000.00. Following the completion of the transaction, the chief financial officer now owns 25,000 shares of the company’s stock, valued at approximately $2,577,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Mateo sold 981 shares of the business’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $92.07, for a total value of $90,320.67. Following the transaction, the executive vice president now directly owns 14,342 shares of the company’s stock, valued at approximately $1,320,467.94. The disclosure for this sale can be found here. Insiders sold 79,672 shares of company stock valued at $7,896,968 in the last ninety days. Insiders own 15.97% of the company’s stock.

Shares of NYSE:VEEV opened at $88.56 on Monday. Veeva Systems Inc has a fifty-two week low of $52.17 and a fifty-two week high of $109.05. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 96.26, a P/E/G ratio of 3.81 and a beta of 1.65.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, November 28th. The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Veeva Systems had a return on equity of 16.20% and a net margin of 23.61%. The company had revenue of $224.70 million during the quarter, compared to analysts’ expectations of $216.04 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. Sell-side analysts expect that Veeva Systems Inc will post 1.19 EPS for the current fiscal year.

A number of analysts recently issued reports on VEEV shares. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research report on Wednesday, August 29th. ValuEngine raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. DA Davidson set a $120.00 price objective on Veeva Systems and gave the company a “buy” rating in a research report on Friday, October 5th. Morgan Stanley lifted their price objective on Veeva Systems from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 24th. They noted that the move was a valuation call. Finally, William Blair reissued an “outperform” rating on shares of Veeva Systems in a research report on Monday, October 8th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Veeva Systems currently has a consensus rating of “Buy” and a consensus price target of $102.94.

ILLEGAL ACTIVITY WARNING: “Veeva Systems Inc (VEEV) Shares Sold by Algert Global LLC” was first reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The legal version of this report can be viewed at https://www.dailypolitical.com/2018/12/10/veeva-systems-inc-veev-shares-sold-by-algert-global-llc.html.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content 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.

Featured Story: Coverage Ratio

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

Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.