GSA Capital Partners LLP Lowers Stake in Veeva Systems Inc (NYSE:VEEV)

GSA Capital Partners LLP cut its stake in Veeva Systems Inc (NYSE:VEEV) by 48.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,085 shares of the technology company’s stock after selling 8,489 shares during the quarter. GSA Capital Partners LLP’s holdings in Veeva Systems were worth $1,473,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of VEEV. First Command Financial Services Inc. acquired a new stake in Veeva Systems in the 2nd quarter valued at about $32,000. Hanson McClain Inc. raised its holdings in Veeva Systems by 67.2% in the 1st quarter. Hanson McClain Inc. now owns 224 shares of the technology company’s stock valued at $28,000 after acquiring an additional 90 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in Veeva Systems in the 2nd quarter valued at about $45,000. Bremer Bank National Association acquired a new stake in Veeva Systems in the 1st quarter valued at about $44,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at about $58,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Alan Mateo sold 4,539 shares of Veeva Systems stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $154.35, for a total value of $700,594.65. Following the completion of the sale, the executive vice president now owns 22,174 shares in the company, valued at approximately $3,422,556.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy S. Cabral sold 42,500 shares of Veeva Systems stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $157.50, for a total transaction of $6,693,750.00. Following the completion of the sale, the chief financial officer now owns 22,500 shares of the company’s stock, valued at approximately $3,543,750. The disclosure for this sale can be found here. Insiders have sold a total of 78,839 shares of company stock valued at $12,607,413 in the last 90 days. Insiders own 14.38% of the company’s stock.

Shares of NYSE VEEV traded down $1.39 during midday trading on Friday, reaching $158.13. 1,125,196 shares of the stock were exchanged, compared to its average volume of 1,161,047. The company has a 50 day simple moving average of $165.85 and a 200 day simple moving average of $143.98. The stock has a market capitalization of $23.49 billion, a P/E ratio of 127.52, a PEG ratio of 8.05 and a beta of 1.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.73 and a current ratio of 3.73. Veeva Systems Inc has a twelve month low of $79.26 and a twelve month high of $176.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.08). The firm had revenue of $244.75 million for the quarter, compared to analyst estimates of $238.69 million. Veeva Systems had a return on equity of 17.61% and a net margin of 28.41%. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. On average, research analysts expect that Veeva Systems Inc will post 1.6 earnings per share for the current year.

A number of analysts have commented on VEEV shares. ValuEngine downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Canaccord Genuity increased their price objective on shares of Veeva Systems from $115.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Deutsche Bank increased their price objective on shares of Veeva Systems from $115.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Bank of America increased their price objective on shares of Veeva Systems from $160.00 to $192.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Stifel Nicolaus increased their price objective on shares of Veeva Systems from $155.00 to $175.00 and gave the company a “buy” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Veeva Systems currently has an average rating of “Buy” and a consensus price target of $151.50.

Veeva Systems 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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