Glynn Capital Management LLC increased its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,099 shares of the technology company’s stock after purchasing an additional 8,978 shares during the period. Veeva Systems accounts for 5.7% of Glynn Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. Glynn Capital Management LLC owned 0.14% of Veeva Systems worth $31,317,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. First Command Financial Services Inc. acquired a new stake in shares of Veeva Systems in the 2nd quarter worth $32,000. APG Asset Management N.V. lifted its stake in shares of Veeva Systems by 490.9% in the 2nd quarter. APG Asset Management N.V. now owns 260,000 shares of the technology company’s stock worth $37,011,000 after acquiring an additional 216,000 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Veeva Systems in the 2nd quarter worth $19,972,000. Davy Asset Management Ltd acquired a new stake in shares of Veeva Systems in the 2nd quarter worth $263,000. Finally, United Services Automobile Association lifted its stake in shares of Veeva Systems by 53.3% in the 2nd quarter. United Services Automobile Association now owns 124,189 shares of the technology company’s stock worth $20,132,000 after acquiring an additional 43,188 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Several research firms have recently commented on VEEV. Raymond James upgraded shares of Veeva Systems from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research note on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $150.00 to $183.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Morgan Stanley cut their price target on shares of Veeva Systems from $154.00 to $150.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Guggenheim increased their price target on shares of Veeva Systems from $154.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, DA Davidson increased their price target on shares of Veeva Systems from $165.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $168.11.
In other news, CAO Michele O’connor sold 1,600 shares of Veeva Systems stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $151.94, for a total transaction of $243,104.00. Following the completion of the sale, the chief accounting officer now directly owns 1,817 shares in the company, valued at $276,074.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $167.57, for a total transaction of $2,513,550.00. Following the sale, the chief financial officer now owns 586 shares of the company’s stock, valued at $98,196.02. The disclosure for this sale can be found here. Insiders have sold a total of 75,506 shares of company stock valued at $11,809,495 over the last 90 days. 14.38% of the stock is currently owned by insiders.
NYSE:VEEV traded up $2.77 during mid-day trading on Friday, hitting $143.77. 950,871 shares of the company’s stock traded hands, compared to its average volume of 1,416,039. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.23 and a current ratio of 4.23. The firm’s 50 day simple moving average is $148.16 and its 200 day simple moving average is $154.37. Veeva Systems Inc has a 1 year low of $79.26 and a 1 year high of $176.90. The company has a market cap of $20.92 billion, a PE ratio of 115.94, a price-to-earnings-growth ratio of 4.57 and a beta of 1.26.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, August 27th. The technology company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Veeva Systems had a net margin of 29.72% and a return on equity of 18.10%. The firm had revenue of $266.90 million during the quarter, compared to the consensus estimate of $259.35 million. During the same period last year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, research analysts expect that Veeva Systems Inc will post 1.62 earnings per share for the current fiscal year.
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 and data 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 Article: What moving averages are used to define a golden cross?
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.