Versor Investments LP Has $1.10 Million Stake in Veeva Systems Inc. $VEEV

Key Points

• Versor Investments LP reduced its stake in Veeva Systems by 26.9%, holding 4,743 shares valued at approximately $1.1 million as of its last SEC filing.
• In the first quarter, institutional investors and hedge funds collectively owned 88.20% of Veeva Systems, indicating strong support from large financial entities.
• Veeva Systems' stock recently traded at $280.18, reflecting a 1.9% increase, with a reported quarterly revenue of $759.04 million, exceeding analysts' expectations.

Versor Investments LP decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 26.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,743 shares of the technology company's stock after selling 1,741 shares during the period. Versor Investments LP's holdings in Veeva Systems were worth $1,099,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in VEEV. Leigh Baldwin & CO. LLC acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $685,355,000. Nuveen LLC acquired a new stake in Veeva Systems in the 1st quarter valued at approximately $365,684,000. Stockbridge Partners LLC acquired a new stake in Veeva Systems in the 4th quarter valued at approximately $137,260,000. GAMMA Investing LLC grew its holdings in Veeva Systems by 26,258.4% in the 1st quarter. GAMMA Investing LLC now owns 422,261 shares of the technology company's stock valued at $97,808,000 after buying an additional 420,659 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Veeva Systems by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company's stock valued at $3,418,990,000 after buying an additional 315,421 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 171 shares of Veeva Systems stock in a transaction on Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the sale, the director directly owned 3,966 shares of the company's stock, valued at $1,127,930.40. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president directly owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,378 shares of company stock valued at $394,217 over the last three months. Company insiders own 10.30% of the company's stock.

Veeva Systems Stock Up 1.9%

Shares of Veeva Systems stock opened at $280.18 on Monday. Veeva Systems Inc. has a 12 month low of $190.69 and a 12 month high of $296.72. The business has a fifty day simple moving average of $282.25 and a 200 day simple moving average of $250.97. The stock has a market cap of $45.78 billion, a PE ratio of 59.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping 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 analysts' expectations of $728.38 million. During the same period in the previous year, the firm earned $1.50 earnings per share. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. Analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research analyst reports. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. UBS Group raised their target price on Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Needham & Company LLC raised their target price on Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Piper Sandler raised their target price on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Finally, Barclays lifted their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $274.17.

Veeva Systems Profile

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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