5,680 Shares in Veeva Systems Inc. $VEEV Bought by Third View Private Wealth LLC

Third View Private Wealth LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,680 shares of the technology company’s stock, valued at approximately $1,268,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GPS Wealth Strategies Group LLC raised its holdings in shares of Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after acquiring an additional 55 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Veeva Systems during the fourth quarter worth $27,000. Raiffeisen Bank International AG purchased a new stake in shares of Veeva Systems during the third quarter worth $28,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Finally, OLD Second National Bank of Aurora purchased a new stake in shares of Veeva Systems during the third quarter worth $30,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on VEEV shares. UBS Group raised their target price on Veeva Systems from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Barclays cut their target price on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. William Blair restated an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. Wells Fargo & Company cut their target price on Veeva Systems from $333.00 to $317.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Finally, Wall Street Zen lowered Veeva Systems from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $278.70.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $158.45 on Tuesday. The company has a market cap of $25.88 billion, a P/E ratio of 29.29, a P/E/G ratio of 0.99 and a beta of 1.10. The stock’s 50-day moving average is $179.63 and its 200-day moving average is $228.42. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV) last issued 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 company had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business 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. As a group, equities analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems announced that its board has authorized a share repurchase program on Monday, January 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

About Veeva Systems

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.