Cumberland Partners Ltd reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 76.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the technology company’s stock after selling 20,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Veeva Systems were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of VEEV. SHP Wealth Management bought a new stake in Veeva Systems in the 4th quarter worth about $26,000. Newbridge Financial Services Group Inc. raised its position in Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 100 shares during the last quarter. Activest Wealth Management lifted its stake in Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares during the period. MV Capital Management Inc. bought a new position in Veeva Systems during the 4th quarter valued at about $30,000. Finally, Reflection Asset Management purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $32,000. 88.20% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. The Goldman Sachs Group lowered their price objective on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research report on Thursday, June 4th. TD Cowen restated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $285.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group decreased their target price on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $247.08.
Veeva Systems Stock Up 3.6%
Veeva Systems stock opened at $186.06 on Friday. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The company has a market cap of $30.22 billion, a P/E ratio of 33.17, a P/E/G ratio of 0.80 and a beta of 0.94. The business has a 50-day simple moving average of $174.59 and a two-hundred day simple moving average of $181.60.
Veeva Systems (NYSE:VEEV – Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.97 EPS. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Research analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.
More Veeva Systems News
Here are the key news stories impacting Veeva Systems this week:
- Positive Sentiment: Guggenheim upgraded Veeva Systems to strong-buy and later set a $232 price target, implying meaningful upside from current levels. Tickerreport.com
- Positive Sentiment: Investor interest is being supported by articles highlighting Veeva as a cash-heavy stock with financial stability, which may appeal to defensive growth investors. Yahoo Finance
- Positive Sentiment: Recent commentary points to steady execution and attractive P/E multiples, reinforcing the view that Veeva’s fundamentals remain solid ahead of its next earnings report. Seeking Alpha
- Neutral Sentiment: Several recent articles focus on what to expect from Veeva’s next earnings release and broader analyst sentiment, suggesting the stock may remain sensitive to upcoming guidance and results. MSN
- Negative Sentiment: The stock had recently declined more than the broader market, reminding investors that near-term volatility remains a risk despite the positive analyst coverage. Yahoo Finance
Insider Buying and Selling at Veeva Systems
In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.
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.
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