Synovus Financial Corp bought a new position in shares of Veeva Systems (NYSE:VEEV) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,741 shares of the technology company’s stock, valued at approximately $201,000.
Other institutional investors also recently made changes to their positions in the company. Champlain Investment Partners LLC acquired a new position in shares of Veeva Systems during the fourth quarter worth approximately $24,154,000. Bamco Inc. NY lifted its holdings in shares of Veeva Systems by 767.9% during the fourth quarter. Bamco Inc. NY now owns 424,253 shares of the technology company’s stock worth $23,453,000 after buying an additional 375,371 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Veeva Systems by 80.7% during the fourth quarter. Renaissance Technologies LLC now owns 635,200 shares of the technology company’s stock worth $35,114,000 after buying an additional 283,688 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Veeva Systems by 86.6% during the fourth quarter. Allianz Asset Management GmbH now owns 374,232 shares of the technology company’s stock worth $20,687,000 after buying an additional 173,664 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Veeva Systems by 39.5% during the fourth quarter. Baird Financial Group Inc. now owns 563,231 shares of the technology company’s stock worth $31,135,000 after buying an additional 159,536 shares during the last quarter. 73.84% of the stock is owned by hedge funds and other institutional investors.
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Shares of NYSE VEEV opened at $77.29 on Friday. The firm has a market capitalization of $10.84 billion, a P/E ratio of 84.01, a PEG ratio of 4.61 and a beta of 1.40. Veeva Systems has a one year low of $52.17 and a one year high of $79.15.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, February 27th. The technology company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $184.92 million during the quarter, compared to analyst estimates of $180.13 million. Veeva Systems had a return on equity of 11.89% and a net margin of 20.71%. research analysts predict that Veeva Systems will post 0.98 EPS for the current fiscal year.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 1st. ValuEngine upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. JMP Securities upped their price target on Veeva Systems from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, March 23rd. JPMorgan Chase lowered Veeva Systems from an “overweight” rating to a “neutral” rating in a report on Friday, March 9th. Finally, KeyCorp reiterated an “overweight” rating and set a $81.00 price target (up from $70.00) on shares of Veeva Systems in a report on Friday, March 2nd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Veeva Systems presently has a consensus rating of “Buy” and an average price target of $72.23.
In related news, President Matthew J. Wallach sold 12,000 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $77.63, for a total value of $931,560.00. Following the completion of the transaction, the president now directly owns 12,000 shares in the company, valued at $931,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Sekhri sold 4,622 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $65.00, for a total value of $300,430.00. The disclosure for this sale can be found here. Insiders sold 169,733 shares of company stock valued at $12,965,920 over the last 90 days. 15.97% of the stock is currently owned by corporate insiders.
Veeva Systems Company 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, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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