Glynn Capital Management LLC held its position in Veeva Systems Inc. (NYSE:VEEV) during the second quarter, Holdings Channel reports. The fund owned 191,515 shares of the company’s stock at the end of the second quarter. Veeva Systems comprises approximately 2.1% of Glynn Capital Management LLC’s holdings, making the stock its 15th largest position. Glynn Capital Management LLC’s holdings in Veeva Systems were worth $6,534,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Huntington National Bank bought a new position in Veeva Systems during the second quarter valued at $101,000. IBM Retirement Fund bought a new position in Veeva Systems during the second quarter valued at $331,000. Squarepoint Ops LLC bought a new position in Veeva Systems during the first quarter valued at $982,000. First Republic Investment Management Inc. boosted its position in Veeva Systems by 54.0% in the first quarter. First Republic Investment Management Inc. now owns 43,730 shares of the company’s stock valued at $1,095,000 after buying an additional 15,335 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Veeva Systems by 48.6% in the first quarter. Envestnet Asset Management Inc. now owns 46,029 shares of the company’s stock valued at $1,153,000 after buying an additional 15,050 shares in the last quarter. 70.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Veeva Systems Inc. (NYSE:VEEV) traded up 0.24% during mid-day trading on Monday, reaching $37.97. 591,919 shares of the company’s stock were exchanged. The firm has a market cap of $5.17 billion, a P/E ratio of 102.62 and a beta of 1.58. The company has a 50 day moving average price of $40.14 and a 200 day moving average price of $34.61. Veeva Systems Inc. has a 52-week low of $19.97 and a 52-week high of $42.58.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The company had revenue of $131.30 million for the quarter, compared to analyst estimates of $126.61 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. Analysts forecast that Veeva Systems Inc. will post $0.60 earnings per share for the current fiscal year.
A number of brokerages have issued reports on VEEV. KeyCorp increased their target price on shares of Veeva Systems from $35.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 31st. Morgan Stanley restated a “buy” rating and set a $44.00 target price on shares of Veeva Systems in a research report on Tuesday, August 16th. Raymond James Financial Inc. began coverage on shares of Veeva Systems in a research report on Wednesday, August 24th. They set a “market perform” rating on the stock. Zacks Investment Research lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Monday, September 5th. Finally, Stifel Nicolaus increased their target price on shares of Veeva Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, September 30th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.46.
In other news, EVP Alan Mateo sold 44,177 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $40.55, for a total value of $1,791,377.35. Following the sale, the executive vice president now owns 5,805 shares of the company’s stock, valued at $235,392.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Timothy S. Cabral sold 42,441 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $41.42, for a total transaction of $1,757,906.22. The disclosure for this sale can be found here. 19.17% of the stock is currently owned by insiders.
Veeva Systems Company Profile
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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