EFG Asset Management Americas Corp. Sells 802 Shares of Veeva Systems Inc (NYSE:VEEV)

EFG Asset Management Americas Corp. lessened its holdings in Veeva Systems Inc (NYSE:VEEV) by 3.9% during the 3rd quarter, Holdings Channel reports. The firm owned 19,523 shares of the technology company’s stock after selling 802 shares during the period. EFG Asset Management Americas Corp.’s holdings in Veeva Systems were worth $2,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of VEEV. BlackRock Inc. boosted its stake in shares of Veeva Systems by 16.3% in the 2nd quarter. BlackRock Inc. now owns 8,770,784 shares of the technology company’s stock valued at $1,421,833,000 after purchasing an additional 1,231,904 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Veeva Systems by 260.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,328,118 shares of the technology company’s stock worth $215,301,000 after acquiring an additional 959,268 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Veeva Systems by 2,101.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 933,268 shares of the technology company’s stock worth $151,292,000 after acquiring an additional 890,867 shares during the last quarter. AQR Capital Management LLC boosted its stake in Veeva Systems by 41.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,958,283 shares of the technology company’s stock worth $311,054,000 after acquiring an additional 569,097 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Veeva Systems by 420.9% during the 2nd quarter. Invesco Ltd. now owns 662,832 shares of the technology company’s stock worth $107,452,000 after acquiring an additional 535,581 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Shares of VEEV stock opened at $144.71 on Tuesday. 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 company has a market capitalization of $21.28 billion, a P/E ratio of 116.70, a price-to-earnings-growth ratio of 4.67 and a beta of 1.26. The company’s 50 day moving average price is $147.96 and its two-hundred day moving average price is $154.50. Veeva Systems Inc has a 52 week low of $79.26 and a 52 week high of $176.90.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, August 27th. The technology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. The firm had revenue of $266.90 million for the quarter, compared to the consensus estimate of $259.35 million. Veeva Systems had a net margin of 29.72% and a return on equity of 18.10%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Analysts forecast that Veeva Systems Inc will post 1.62 earnings per share for the current year.

In other news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $167.57, for a total value of $2,513,550.00. Following the sale, the chief financial officer now directly owns 586 shares in the company, valued at $98,196.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Eleni Nitsa Zuppas sold 3,000 shares of Veeva Systems stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $142.00, for a total transaction of $426,000.00. Following the completion of the sale, the chief marketing officer now owns 13,821 shares in the company, valued at $1,962,582. The disclosure for this sale can be found here. Insiders have sold a total of 72,506 shares of company stock worth $11,326,255 over the last 90 days. Corporate insiders own 14.38% of the company’s stock.

Several research analysts recently weighed in on VEEV shares. Canaccord Genuity lifted their price objective on shares of Veeva Systems from $135.00 to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Raymond James raised shares of Veeva Systems from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research note on Thursday, September 26th. Stifel Nicolaus lifted their price objective on shares of Veeva Systems from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $150.00 to $183.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Finally, JMP Securities lifted their price objective on shares of Veeva Systems from $153.00 to $172.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $168.11.

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.

Further Reading: What are different types of coverage ratios?

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).

Institutional Ownership by Quarter for Veeva Systems (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.