Columbia Partners L.L.C. Investment Management bought a new position in shares of Veeva Systems Inc (NYSE:VEEV) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,588 shares of the technology company’s stock, valued at approximately $1,370,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAM Holding AG lifted its holdings in shares of Veeva Systems by 1.3% during the third quarter. GAM Holding AG now owns 60,052 shares of the technology company’s stock worth $6,538,000 after purchasing an additional 769 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Veeva Systems by 3.9% during the third quarter. William Blair Investment Management LLC now owns 2,666,366 shares of the technology company’s stock worth $290,287,000 after purchasing an additional 100,561 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Veeva Systems by 22.6% during the third quarter. Hsbc Holdings PLC now owns 15,811 shares of the technology company’s stock worth $1,721,000 after purchasing an additional 2,918 shares during the period. Standard Life Aberdeen plc lifted its holdings in shares of Veeva Systems by 2.0% during the third quarter. Standard Life Aberdeen plc now owns 28,661 shares of the technology company’s stock worth $3,120,000 after purchasing an additional 568 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Veeva Systems by 60.2% during the third quarter. Franklin Resources Inc. now owns 1,138,399 shares of the technology company’s stock worth $123,929,000 after purchasing an additional 427,677 shares during the period. 77.42% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Alan Mateo sold 555 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $103.52, for a total value of $57,453.60. Following the transaction, the executive vice president now owns 13,147 shares in the company, valued at $1,360,977.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Matthew J. Wallach sold 12,000 shares of Veeva Systems stock in a transaction on Monday, September 17th. The shares were sold at an average price of $105.40, for a total transaction of $1,264,800.00. Following the completion of the sale, the president now directly owns 12,000 shares of the company’s stock, valued at $1,264,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,929 shares of company stock worth $12,321,740. 15.97% of the stock is owned by company insiders.
VEEV stock opened at $96.16 on Monday. The firm has a market capitalization of $13.79 billion, a P/E ratio of 104.52, a PEG ratio of 4.53 and a beta of 1.64. Veeva Systems Inc has a 12-month low of $52.17 and a 12-month high of $109.05.
Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, November 28th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. The business had revenue of $224.70 million for the quarter, compared to analyst estimates of $216.04 million. Veeva Systems had a net margin of 23.61% and a return on equity of 16.20%. Veeva Systems’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. Equities analysts expect that Veeva Systems Inc will post 1.14 EPS for the current year.
VEEV has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target (up previously from $90.00) on shares of Veeva Systems in a report on Friday, August 24th. DA Davidson lifted their price target on shares of Veeva Systems to $105.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Canaccord Genuity lifted their price target on shares of Veeva Systems from $85.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 24th. They noted that the move was a valuation call. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Finally, KeyCorp reiterated a “buy” rating on shares of Veeva Systems in a report on Thursday, August 23rd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Veeva Systems currently has an average rating of “Buy” and an average price target of $101.80.
COPYRIGHT VIOLATION NOTICE: “Columbia Partners L.L.C. Investment Management Invests $1.37 Million in Veeva Systems Inc (VEEV)” was published by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/12/03/columbia-partners-l-l-c-investment-management-invests-1-37-million-in-veeva-systems-inc-veev.html.
Veeva Systems 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.
Recommended Story: Candlestick
Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc (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.