Alberta Investment Management Corp Acquires 6,800 Shares of Veeva Systems Inc (NYSE:VEEV)

Alberta Investment Management Corp raised its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 89.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,400 shares of the technology company’s stock after purchasing an additional 6,800 shares during the period. Alberta Investment Management Corp’s holdings in Veeva Systems were worth $2,252,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Westside Investment Management Inc. bought a new position in shares of Veeva Systems in the 1st quarter worth approximately $27,000. Orion Portfolio Solutions LLC bought a new position in shares of Veeva Systems in the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. raised its position in shares of Veeva Systems by 45.6% in the 1st quarter. First Horizon Advisors Inc. now owns 233 shares of the technology company’s stock worth $35,000 after acquiring an additional 73 shares in the last quarter. Lighthouse Financial Advisors Inc. bought a new position in shares of Veeva Systems in the 4th quarter worth approximately $34,000. Finally, Squar Milner Financial Services LLC raised its position in shares of Veeva Systems by 113.9% in the 4th quarter. Squar Milner Financial Services LLC now owns 293 shares of the technology company’s stock worth $41,000 after acquiring an additional 156 shares in the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

VEEV has been the subject of several research reports. Bank of America reissued a “buy” rating and issued a $180.00 target price (down previously from $192.00) on shares of Veeva Systems in a research report on Wednesday, March 4th. SVB Leerink initiated coverage on Veeva Systems in a research report on Monday, April 13th. They issued a “market perform” rating and a $166.00 target price for the company. Canaccord Genuity reissued a “hold” rating and issued a $165.00 target price on shares of Veeva Systems in a research report on Wednesday, March 4th. Robert W. Baird upped their price target on Veeva Systems from $184.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Finally, SunTrust Banks cut their price target on Veeva Systems from $175.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $177.71.

In other news, SVP Jonathan Faddis sold 1,166 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $139.70, for a total value of $162,890.20. Following the transaction, the senior vice president now directly owns 1,966 shares in the company, valued at approximately $274,650.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alan Mateo sold 431 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $144.34, for a total value of $62,210.54. Following the completion of the transaction, the executive vice president now owns 15,820 shares in the company, valued at $2,283,458.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,282 shares of company stock worth $4,161,149. Company insiders own 14.38% of the company’s stock.

Shares of VEEV opened at $202.96 on Friday. The business’s fifty day simple moving average is $180.85 and its two-hundred day simple moving average is $155.07. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. Veeva Systems Inc has a 12 month low of $118.11 and a 12 month high of $205.67. The company has a market cap of $29.47 billion, a price-to-earnings ratio of 106.26, a P/E/G ratio of 7.23 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, March 3rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Veeva Systems had a return on equity of 16.34% and a net margin of 27.27%. The business had revenue of $311.50 million for the quarter, compared to the consensus estimate of $298.00 million. During the same period last year, the business posted $0.45 EPS. The company’s revenue was up 34.1% compared to the same quarter last year. As a group, research analysts forecast that Veeva Systems Inc will post 1.75 EPS for the current 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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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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