Veeva Systems Inc (VEEV) Position Trimmed by Glynn Capital Management LLC

Glynn Capital Management LLC reduced its position in Veeva Systems Inc (NYSE:VEEV) by 10.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 290,602 shares of the technology company’s stock after selling 34,090 shares during the period. Veeva Systems makes up 3.5% of Glynn Capital Management LLC’s portfolio, making the stock its 14th biggest position. Glynn Capital Management LLC’s holdings in Veeva Systems were worth $16,064,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. QS Investors LLC raised its position in Veeva Systems by 0.5% in the 2nd quarter. QS Investors LLC now owns 3,832 shares of the technology company’s stock worth $235,000 after purchasing an additional 19 shares during the period. Comerica Bank raised its position in Veeva Systems by 14.0% in the 2nd quarter. Comerica Bank now owns 4,339 shares of the technology company’s stock worth $285,000 after purchasing an additional 534 shares during the period. Great West Life Assurance Co. Can raised its position in Veeva Systems by 2.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 34,106 shares of the technology company’s stock worth $1,922,000 after purchasing an additional 865 shares during the period. Profund Advisors LLC raised its position in Veeva Systems by 2.6% in the 2nd quarter. Profund Advisors LLC now owns 33,904 shares of the technology company’s stock worth $2,079,000 after purchasing an additional 872 shares during the period. Finally, Flagship Harbor Advisors LLC raised its position in Veeva Systems by 26.8% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,226 shares of the technology company’s stock worth $248,000 after purchasing an additional 893 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Veeva Systems Inc (NYSE:VEEV) opened at $58.37 on Tuesday. The company has a market cap of $8,250.19, a PE ratio of 67.87, a price-to-earnings-growth ratio of 4.74 and a beta of 1.60. Veeva Systems Inc has a one year low of $41.30 and a one year high of $68.07.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, December 5th. The technology company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The business had revenue of $176.10 million for the quarter, compared to the consensus estimate of $171.99 million. During the same period in the prior year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. equities analysts forecast that Veeva Systems Inc will post 0.68 EPS for the current year.

In other news, SVP Frederic Lequient sold 2,875 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $57.32, for a total transaction of $164,795.00. Following the transaction, the senior vice president now directly owns 3,399 shares in the company, valued at $194,830.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Timothy S. Cabral sold 50,000 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $55.74, for a total transaction of $2,787,000.00. Following the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $2,787,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 175,016 shares of company stock worth $10,088,246. Insiders own 17.50% of the company’s stock.

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating on shares of Veeva Systems in a research report on Thursday, October 12th. Stifel Nicolaus restated a “buy” rating and issued a $67.00 target price on shares of Veeva Systems in a research note on Friday, October 13th. Canaccord Genuity restated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Wednesday, December 6th. Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Wednesday, October 11th. Finally, BidaskClub upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Veeva Systems presently has a consensus rating of “Buy” and an average price target of $67.45.

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

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