First Hawaiian Bank grew its position in Veeva Systems Inc (NYSE:VEEV) by 270.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,295 shares of the technology company’s stock after buying 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.
Several other institutional investors and hedge funds have also recently made changes to their positions in VEEV. FMR LLC lifted its position in shares of Veeva Systems by 63.4% in the fourth quarter. FMR LLC now owns 5,926,515 shares of the technology company’s stock worth $529,357,000 after purchasing an additional 2,300,472 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Veeva Systems by 4.5% in the fourth quarter. First Trust Advisors LP now owns 2,407,957 shares of the technology company’s stock worth $215,079,000 after purchasing an additional 102,884 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Veeva Systems by 15.9% in the fourth quarter. Geode Capital Management LLC now owns 1,307,248 shares of the technology company’s stock worth $116,693,000 after purchasing an additional 179,262 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Veeva Systems by 60.2% in the third quarter. Franklin Resources Inc. now owns 1,138,399 shares of the technology company’s stock worth $123,929,000 after purchasing an additional 427,677 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Veeva Systems in the fourth quarter worth approximately $97,108,000. Institutional investors own 77.82% of the company’s stock.
In other Veeva Systems news, Director Paul J. Sekhri sold 600 shares of Veeva Systems stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $127.53, for a total transaction of $76,518.00. Following the sale, the director now owns 16,468 shares in the company, valued at $2,100,164.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alan Mateo sold 4,025 shares of Veeva Systems stock in a transaction 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 sale, the executive vice president now owns 29,631 shares in the company, valued at approximately $3,591,277.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,516 shares of company stock worth $13,857,648. 15.97% of the stock is currently owned by corporate insiders.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Tuesday, February 26th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $232.32 million for the quarter, compared to the consensus estimate of $227.15 million. Veeva Systems had a net margin of 26.66% and a return on equity of 16.91%. Veeva Systems’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. Research analysts expect that Veeva Systems Inc will post 1.53 EPS for the current year.
VEEV has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Saturday, February 9th. Barclays initiated coverage on shares of Veeva Systems in a research report on Wednesday, February 20th. They issued an “equal weight” rating and a $130.00 price target for the company. DA Davidson increased their price target on shares of Veeva Systems to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. JMP Securities increased their price target on shares of Veeva Systems from $108.00 to $122.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 27th. Finally, SunTrust Banks raised their price objective on shares of Veeva Systems to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $119.71.
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Veeva Systems 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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