Thrivent Financial for Lutherans grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 10,109.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 356,920 shares of the technology company’s stock after purchasing an additional 353,424 shares during the period. Thrivent Financial for Lutherans’ holdings in Veeva Systems were worth $79,675,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Linden Thomas Advisory Services LLC lifted its position in shares of Veeva Systems by 0.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company’s stock worth $3,707,000 after purchasing an additional 35 shares in the last quarter. Personal CFO Solutions LLC lifted its position in shares of Veeva Systems by 3.5% during the third quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company’s stock worth $346,000 after purchasing an additional 39 shares in the last quarter. AFT Forsyth & Company Inc. lifted its position in shares of Veeva Systems by 4.2% during the third quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company’s stock worth $293,000 after purchasing an additional 40 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its position in shares of Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock worth $2,806,000 after purchasing an additional 40 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Veeva Systems by 0.7% during the third quarter. CIBC Asset Management Inc now owns 6,821 shares of the technology company’s stock worth $2,032,000 after purchasing an additional 45 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently commented on VEEV shares. Zacks Research raised shares of Veeva Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. TD Cowen reduced their target price on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Citigroup cut shares of Veeva Systems from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $291.00 to $176.00 in a research report on Friday, April 10th. Finally, Truist Financial reissued a “buy” rating and set a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $278.70.
Veeva Systems Price Performance
VEEV opened at $159.03 on Friday. The stock has a market capitalization of $25.98 billion, a PE ratio of 29.40, a P/E/G ratio of 0.70 and a beta of 0.92. The firm’s fifty day moving average price is $171.47 and its 200 day moving average price is $208.80. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50.
Veeva Systems (NYSE:VEEV – Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $835.95 million for the quarter, compared to analysts’ expectations of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, equities research analysts forecast that Veeva Systems Inc. will post 6.41 earnings per share for the current fiscal year.
Insider Transactions at Veeva Systems
In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the sale, the director directly owned 3,253 shares of the company’s stock, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.
Veeva Systems Company Profile
Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.
Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.
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