Cypress Capital Management LLC WY purchased a new stake in Veeva Systems Inc (NYSE:VEEV) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 1,075 shares of the technology company’s stock, valued at approximately $136,000.
Other large investors have also added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY raised its holdings in shares of Veeva Systems by 0.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,355 shares of the technology company’s stock valued at $836,000 after acquiring an additional 83 shares in the last quarter. QS Investors LLC raised its holdings in shares of Veeva Systems by 235.7% in the 4th quarter. QS Investors LLC now owns 44,243 shares of the technology company’s stock valued at $3,952,000 after acquiring an additional 31,062 shares in the last quarter. Lyell Wealth Management LP raised its holdings in shares of Veeva Systems by 4.1% in the 1st quarter. Lyell Wealth Management LP now owns 44,550 shares of the technology company’s stock valued at $5,652,000 after acquiring an additional 1,753 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Veeva Systems by 200.2% in the 4th quarter. Bank of Montreal Can now owns 111,628 shares of the technology company’s stock valued at $9,971,000 after acquiring an additional 74,442 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Veeva Systems by 24.1% in the 4th quarter. Toronto Dominion Bank now owns 16,282 shares of the technology company’s stock valued at $1,454,000 after acquiring an additional 3,164 shares in the last quarter. 77.91% of the stock is currently owned by hedge funds and other institutional investors.
VEEV has been the topic of several recent analyst reports. Morgan Stanley raised their price target on Veeva Systems from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, February 25th. ValuEngine raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. Zacks Investment Research cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, February 18th. DA Davidson raised their price target on Veeva Systems to $160.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Stephens initiated coverage on Veeva Systems in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $113.00 price target on the stock. Seven 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 company. Veeva Systems presently has a consensus rating of “Buy” and an average target price of $119.71.
Shares of Veeva Systems stock opened at $134.92 on Tuesday. The stock has a market cap of $20.33 billion, a PE ratio of 108.81, a PEG ratio of 6.27 and a beta of 1.71. Veeva Systems Inc has a 12 month low of $73.47 and a 12 month high of $145.23.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Tuesday, February 26th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. The firm had revenue of $232.32 million for the quarter, compared to analyst estimates of $227.15 million. Veeva Systems had a return on equity of 16.91% and a net margin of 26.66%. The company’s revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. On average, sell-side analysts anticipate that Veeva Systems Inc will post 1.53 earnings per share for the current fiscal year.
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, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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