Veeva Systems Inc. $VEEV Shares Purchased by North Star Asset Management Inc.

North Star Asset Management Inc. increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 12.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 132,808 shares of the technology company’s stock after buying an additional 14,535 shares during the period. Veeva Systems comprises approximately 1.2% of North Star Asset Management Inc.’s holdings, making the stock its 26th biggest position. North Star Asset Management Inc.’s holdings in Veeva Systems were worth $29,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Jensen Investment Management Inc. grew its position in shares of Veeva Systems by 1,924.5% during the 3rd quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock valued at $123,100,000 after acquiring an additional 392,802 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at about $422,241,000. Principal Financial Group Inc. grew its position in shares of Veeva Systems by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock valued at $1,146,040,000 after acquiring an additional 388,864 shares during the period. Compass Wealth Management LLC acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at about $18,694,000. Finally, ABN AMRO Bank N.V. acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at about $246,625,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Up 1.3%

VEEV stock opened at $160.40 on Friday. The business’s 50-day moving average is $168.39 and its 200 day moving average is $204.33. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 0.71 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same period last year, the company posted $1.74 EPS. The business’s revenue was up 16.0% on a year-over-year basis. 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 forecast that Veeva Systems Inc. will post 6.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 3,253 shares of the company’s stock, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a document filed 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 company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on VEEV. JPMorgan Chase & Co. lowered their price objective on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Piper Sandler lowered their price objective on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Barclays lowered their price objective on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Truist Financial reiterated a “buy” rating and issued a $262.00 price objective (down from $275.00) on shares of Veeva Systems in a report on Thursday, March 5th. Finally, Oppenheimer lowered their price objective on Veeva Systems from $275.00 to $225.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $276.52.

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.