1,649 Shares in Veeva Systems Inc. (VEEV) Purchased by ETF Managers Group LLC

ETF Managers Group LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,649 shares of the technology company’s stock, valued at approximately $101,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of VEEV. Great West Life Assurance Co. Can increased its position in shares of Veeva Systems by 22.5% during the first quarter. Great West Life Assurance Co. Can now owns 10,340 shares of the technology company’s stock worth $529,000 after purchasing an additional 1,900 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Veeva Systems by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 510,450 shares of the technology company’s stock worth $26,177,000 after purchasing an additional 27,282 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Veeva Systems by 135.6% during the first quarter. BNP Paribas Arbitrage SA now owns 3,809 shares of the technology company’s stock worth $195,000 after purchasing an additional 2,192 shares in the last quarter. Comerica Bank acquired a new stake in shares of Veeva Systems during the first quarter worth about $204,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of Veeva Systems by 12.1% during the first quarter. UBS Asset Management Americas Inc. now owns 62,602 shares of the technology company’s stock worth $3,210,000 after purchasing an additional 6,781 shares in the last quarter. Institutional investors and hedge funds own 71.46% of the company’s stock.

Veeva Systems Inc. (NYSE VEEV) traded up 0.12% during trading on Friday, hitting $58.10. The company had a trading volume of 803,738 shares. Veeva Systems Inc. has a 12 month low of $36.55 and a 12 month high of $68.07. The company has a market cap of $8.17 billion, a PE ratio of 74.30 and a beta of 1.62. The company’s 50 day moving average price is $57.98 and its 200-day moving average price is $58.55.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $166.59 million for the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. Veeva Systems’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. Equities analysts expect that Veeva Systems Inc. will post $0.87 earnings per share for the current year.

A number of analysts have recently commented on the company. BidaskClub cut Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 14th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Friday, August 25th. JMP Securities reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Saturday, August 26th. KeyCorp reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Friday, August 25th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Tuesday, August 22nd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.82.

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In other Veeva Systems news, CFO Timothy S. Cabral sold 8,750 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $57.24, for a total value of $500,850.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy S. Cabral sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 305,640 shares of company stock worth $18,100,686. 19.17% of the stock is owned by company insiders.

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.

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

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