Chicago Capital LLC grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 284,996 shares of the technology company's stock after buying an additional 1,355 shares during the quarter. Veeva Systems makes up about 1.9% of Chicago Capital LLC's investment portfolio, making the stock its 17th largest holding. Chicago Capital LLC owned approximately 0.18% of Veeva Systems worth $66,014,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its position in shares of Veeva Systems by 3.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company's stock valued at $1,086,930,000 after purchasing an additional 177,201 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in Veeva Systems during the fourth quarter valued at $685,355,000. FMR LLC boosted its holdings in shares of Veeva Systems by 7.8% during the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock valued at $675,609,000 after buying an additional 232,116 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Veeva Systems by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock worth $631,935,000 after buying an additional 447,041 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock worth $623,186,000 after acquiring an additional 784,741 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.
Veeva Systems Stock Performance
Shares of VEEV stock traded down $2.15 on Friday, reaching $279.28. The stock had a trading volume of 3,112,070 shares, compared to its average volume of 1,153,530. Veeva Systems Inc. has a 1 year low of $176.56 and a 1 year high of $291.69. The stock has a market cap of $45.64 billion, a P/E ratio of 59.17, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a 50 day simple moving average of $247.75 and a 200 day simple moving average of $233.83.
Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The business had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. During the same period in the previous year, the company posted $1.50 EPS. The business's quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on VEEV. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Stifel Nicolaus upped their price target on Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Scotiabank raised their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Wells Fargo & Company boosted their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Finally, Raymond James Financial increased their target price on Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $269.80.
Check Out Our Latest Report on VEEV
Insiders Place Their Bets
In other news, Director Timothy S. Cabral sold 315 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the transaction, the director now owns 5,500 shares of the company's stock, valued at $1,593,460. This trade represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider now owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,184 shares of company stock worth $1,376,179. Company insiders own 10.30% of the company's stock.
Veeva Systems Profile
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Free Report)
Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.
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