LS Investment Advisors LLC Sells 169 Shares of Veeva Systems Inc (VEEV)

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LS Investment Advisors LLC trimmed its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,159 shares of the technology company’s stock after selling 169 shares during the quarter. LS Investment Advisors LLC’s holdings in Veeva Systems were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of VEEV. BlackRock Inc. raised its stake in shares of Veeva Systems by 18.6% during the 3rd quarter. BlackRock Inc. now owns 7,710,493 shares of the technology company’s stock worth $839,440,000 after buying an additional 1,207,291 shares in the last quarter. FMR LLC raised its stake in shares of Veeva Systems by 10.8% during the 3rd quarter. FMR LLC now owns 3,626,043 shares of the technology company’s stock worth $394,767,000 after buying an additional 352,026 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Veeva Systems by 3.9% during the 3rd quarter. William Blair Investment Management LLC now owns 2,666,366 shares of the technology company’s stock worth $290,287,000 after buying an additional 100,561 shares in the last quarter. Winslow Capital Management LLC raised its stake in shares of Veeva Systems by 25.1% during the 3rd quarter. Winslow Capital Management LLC now owns 2,136,138 shares of the technology company’s stock worth $232,561,000 after buying an additional 428,945 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Veeva Systems by 0.5% during the 3rd quarter. Blair William & Co. IL now owns 2,057,226 shares of the technology company’s stock worth $223,970,000 after buying an additional 10,751 shares in the last quarter. 76.68% of the stock is owned by institutional investors.

NYSE VEEV opened at $120.40 on Wednesday. Veeva Systems Inc has a 1-year low of $59.05 and a 1-year high of $122.73. The company has a market capitalization of $17.68 billion, a P/E ratio of 130.87, a PEG ratio of 4.47 and a beta of 1.72.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, November 28th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. Veeva Systems had a return on equity of 15.51% and a net margin of 23.61%. The firm had revenue of $224.70 million during the quarter, compared to the consensus estimate of $216.04 million. During the same period last year, the business posted $0.25 EPS. Veeva Systems’s quarterly revenue was up 26.9% on a year-over-year basis. As a group, equities analysts predict that Veeva Systems Inc will post 1.19 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on the company. Stephens assumed coverage on Veeva Systems in a research note on Wednesday, January 16th. They set an “equal weight” rating and a $113.00 target price for the company. ValuEngine raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Zacks Investment Research downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research note on Monday. JMP Securities increased their target price on Veeva Systems to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, November 29th. Finally, Bank of America reaffirmed a “buy” rating and issued a $120.00 price objective (up from $110.00) on shares of Veeva Systems in a research note on Thursday, November 29th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $106.75.

In other Veeva Systems news, President Matthew J. Wallach sold 12,000 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $117.64, for a total transaction of $1,411,680.00. Following the completion of the transaction, the president now owns 12,000 shares of the company’s stock, valued at $1,411,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy S. Cabral sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $89.39, for a total value of $4,469,500.00. The disclosure for this sale can be found here. Insiders have sold 182,261 shares of company stock valued at $16,898,031 in the last three months. 15.97% of the stock is currently owned by company insiders.

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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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