Sterling Capital Management LLC Has $5,122,000 Stake in Veeva Systems Inc. (VEEV)
Sterling Capital Management LLC held its position in Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,535 shares of the technology company’s stock at the end of the 2nd quarter. Sterling Capital Management LLC owned 0.06% of Veeva Systems worth $5,122,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Veeva Systems by 3.3% during the second quarter. Vanguard Group Inc. now owns 9,125,993 shares of the technology company’s stock valued at $559,515,000 after purchasing an additional 290,865 shares in the last quarter. BlackRock Inc. raised its stake in shares of Veeva Systems by 44.9% in the second quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock valued at $356,379,000 after acquiring an additional 1,801,439 shares during the period. FMR LLC raised its stake in shares of Veeva Systems by 50.9% in the second quarter. FMR LLC now owns 3,456,402 shares of the technology company’s stock valued at $211,912,000 after acquiring an additional 1,166,372 shares during the period. First Trust Advisors LP raised its stake in shares of Veeva Systems by 1.2% in the second quarter. First Trust Advisors LP now owns 2,085,958 shares of the technology company’s stock valued at $127,890,000 after acquiring an additional 25,655 shares during the period. Finally, State Street Corp raised its stake in shares of Veeva Systems by 52.1% in the second quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock valued at $113,851,000 after acquiring an additional 635,842 shares during the period. 71.46% of the stock is currently owned by institutional investors.
In other Veeva Systems news, EVP Alan Mateo sold 8,025 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $62.89, for a total transaction of $504,692.25. Following the sale, the executive vice president now directly owns 14,010 shares in the company, valued at $881,088.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gordon Ritter sold 10,200 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $57.13, for a total transaction of $582,726.00. The disclosure for this sale can be found here. Insiders have sold 271,612 shares of company stock worth $15,873,361 over the last quarter. Insiders own 19.17% of the company’s stock.
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Veeva Systems Inc. (NYSE VEEV) traded down 0.99% on Friday, reaching $58.93. 989,837 shares of the company traded hands. The stock has a 50 day moving average of $57.16 and a 200-day moving average of $58.91. Veeva Systems Inc. has a 1-year low of $37.34 and a 1-year high of $68.07. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 75.36 and a beta of 1.62.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company 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%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. On average, equities analysts anticipate that Veeva Systems Inc. will post $0.87 EPS for the current year.
Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 target price on shares of Veeva Systems in a research note on Friday. Zacks Investment Research raised 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. BidaskClub downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 14th. Needham & Company LLC reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday. Finally, Canaccord Genuity reissued a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Tuesday, August 22nd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $65.75.
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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