First Hawaiian Bank boosted its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 270.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,295 shares of the technology company’s stock after acquiring an additional 12,625 shares during the quarter. First Hawaiian Bank’s holdings in Veeva Systems were worth $2,194,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Metropolitan Life Insurance Co. NY boosted its position in Veeva Systems by 0.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,355 shares of the technology company’s stock worth $836,000 after purchasing an additional 83 shares during the period. Yale University purchased a new position in shares of Veeva Systems during the third quarter worth approximately $13,064,000. QS Investors LLC raised its stake in shares of Veeva Systems by 235.7% during the fourth quarter. QS Investors LLC now owns 44,243 shares of the technology company’s stock worth $3,952,000 after acquiring an additional 31,062 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Veeva Systems by 200.2% during the fourth quarter. Bank of Montreal Can now owns 111,628 shares of the technology company’s stock worth $9,971,000 after acquiring an additional 74,442 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Veeva Systems by 24.1% during the fourth quarter. Toronto Dominion Bank now owns 16,282 shares of the technology company’s stock worth $1,454,000 after acquiring an additional 3,164 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Alan Mateo sold 4,025 shares of Veeva Systems stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $121.20, for a total transaction of $487,830.00. Following the completion of the transaction, the executive vice president now directly owns 29,631 shares in the company, valued at $3,591,277.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy S. Cabral sold 48,765 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $113.91, for a total value of $5,554,821.15. Following the completion of the sale, the chief financial officer now owns 23,074 shares of the company’s stock, valued at $2,628,359.34. The disclosure for this sale can be found here. In the last three months, insiders sold 115,457 shares of company stock valued at $13,715,593. Corporate insiders own 15.97% of the company’s stock.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, February 26th. The technology company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $232.32 million for the quarter, compared to the consensus estimate of $227.15 million. Veeva Systems had a return on equity of 16.91% and a net margin of 26.66%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. On average, equities analysts forecast that Veeva Systems Inc will post 1.53 EPS for the current fiscal year.
Several research analysts have commented on the stock. Needham & Company LLC lifted their price target on shares of Veeva Systems from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. DA Davidson boosted their target price on shares of Veeva Systems to $160.00 and gave the company a “buy” rating in a report on Friday, April 12th. SunTrust Banks boosted their target price on shares of Veeva Systems to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. JMP Securities boosted their target price on shares of Veeva Systems from $108.00 to $122.00 and gave the company a “market outperform” rating in a report on Wednesday, February 27th. Finally, Deutsche Bank boosted their target price on Veeva Systems from $100.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, February 27th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $119.71.
Veeva Systems Company Profile
Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.
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