Faithward Advisors LLC Trims Stake in Veeva Systems Inc. $VEEV

Faithward Advisors LLC lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 91.1% during the 1st quarter, HoldingsChannel reports. The firm owned 1,726 shares of the technology company’s stock after selling 17,693 shares during the period. Faithward Advisors LLC’s holdings in Veeva Systems were worth $303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Williams Jones Wealth Management LLC. grew its position in 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 buying an additional 40 shares in the last quarter. Personal CFO Solutions LLC increased its stake in Veeva Systems by 4.3% in the 4th quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company’s stock worth $271,000 after acquiring an additional 50 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Veeva Systems by 0.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock valued at $1,982,000 after acquiring an additional 51 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Veeva Systems by 8.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock valued at $214,000 after acquiring an additional 54 shares during the last quarter. Finally, Northwest Wealth Management LLC boosted its position in shares of Veeva Systems by 6.1% during the 4th quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company’s stock valued at $213,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. UBS Group reduced their target price on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Finally, BMO Capital Markets lowered their price target on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating on the stock in a research report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.96.

Veeva Systems Stock Performance

VEEV stock opened at $161.44 on Thursday. The company has a market capitalization of $26.22 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 0.69 and a beta of 0.95. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The company’s 50 day moving average price is $163.70 and its two-hundred day moving average price is $187.12.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same period in the previous year, the business posted $1.97 EPS. The business’s quarterly revenue was up 16.3% on a year-over-year basis. 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. On average, research analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current year.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’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 completion of the sale, the director directly owned 3,253 shares of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by 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.