Gryphon Financial Partners LLC Has $231,000 Holdings in Veeva Systems Inc (VEEV)

Gryphon Financial Partners LLC boosted its position in shares of Veeva Systems Inc (NYSE:VEEV) by 123.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,121 shares of the technology company’s stock after purchasing an additional 1,173 shares during the period. Gryphon Financial Partners LLC’s holdings in Veeva Systems were worth $231,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Morgan Stanley raised its stake in Veeva Systems by 4.5% during the second quarter. Morgan Stanley now owns 13,129,295 shares of the technology company’s stock worth $1,009,118,000 after purchasing an additional 565,589 shares during the period. BlackRock Inc. raised its stake in Veeva Systems by 5.4% during the second quarter. BlackRock Inc. now owns 6,503,202 shares of the technology company’s stock worth $499,836,000 after purchasing an additional 330,441 shares during the period. Federated Investors Inc. PA raised its stake in Veeva Systems by 4.0% during the second quarter. Federated Investors Inc. PA now owns 4,022,406 shares of the technology company’s stock worth $309,162,000 after purchasing an additional 155,953 shares during the period. FMR LLC raised its stake in Veeva Systems by 38.7% during the second quarter. FMR LLC now owns 3,274,017 shares of the technology company’s stock worth $251,641,000 after purchasing an additional 914,357 shares during the period. Finally, First Trust Advisors LP raised its stake in Veeva Systems by 24.2% during the second quarter. First Trust Advisors LP now owns 2,553,247 shares of the technology company’s stock worth $196,243,000 after purchasing an additional 497,318 shares during the period. 75.37% of the stock is currently owned by institutional investors.

In related news, CFO Timothy S. Cabral sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $101.49, for a total transaction of $5,074,500.00. Following the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $3,044,700. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy S. Cabral sold 25,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 25,000 shares in the company, valued at $2,577,000. The disclosure for this sale can be found here. Insiders sold a total of 172,476 shares of company stock worth $16,528,424 over the last three months. Insiders own 15.97% of the company’s stock.

A number of brokerages have commented on VEEV. ValuEngine downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Canaccord Genuity lifted their target price on shares of Veeva Systems from $85.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. They noted that the move was a valuation call. DA Davidson lifted their target price on shares of Veeva Systems to $105.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. KeyCorp reaffirmed a “buy” rating on shares of Veeva Systems in a research note on Thursday, August 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Veeva Systems from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, October 5th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Veeva Systems presently has an average rating of “Buy” and an average target price of $99.07.

Veeva Systems stock opened at $93.60 on Friday. The company has a market capitalization of $13.20 billion, a PE ratio of 101.74, a P/E/G ratio of 4.33 and a beta of 1.64. Veeva Systems Inc has a 1 year low of $52.17 and a 1 year high of $109.05.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, August 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $209.60 million for the quarter, compared to the consensus estimate of $203.50 million. Veeva Systems had a net margin of 21.23% and a return on equity of 13.58%. The business’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. As a group, sell-side analysts anticipate that Veeva Systems Inc will post 1.1 earnings per share for the current fiscal year.

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About Veeva Systems

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.

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

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