General American Investors Co. Inc. Increases Stake in Veeva Systems Inc. $VEEV

General American Investors Co. Inc. increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 20.8% in the first quarter, Holdings Channel reports. The firm owned 58,006 shares of the technology company’s stock after purchasing an additional 10,000 shares during the period. General American Investors Co. Inc.’s holdings in Veeva Systems were worth $10,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Citizens Financial Group Inc. RI raised its stake in Veeva Systems by 28.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,453 shares of the technology company’s stock worth $782,000 after acquiring an additional 979 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Veeva Systems by 18.1% in the 1st quarter. Fifth Third Bancorp now owns 9,926 shares of the technology company’s stock valued at $1,744,000 after purchasing an additional 1,522 shares during the period. Torray Investment Partners LLC boosted its stake in shares of Veeva Systems by 12.4% during the 1st quarter. Torray Investment Partners LLC now owns 23,758 shares of the technology company’s stock worth $4,173,000 after acquiring an additional 2,626 shares in the last quarter. Candriam S.C.A. grew its holdings in Veeva Systems by 3.3% in the first quarter. Candriam S.C.A. now owns 257,459 shares of the technology company’s stock valued at $45,225,000 after purchasing an additional 8,109 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Veeva Systems by 9.3% during the first quarter. Sequoia Financial Advisors LLC now owns 26,098 shares of the technology company’s stock valued at $4,584,000 after purchasing an additional 2,218 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV traded up $0.57 during midday trading on Friday, reaching $190.27. 1,266,905 shares of the stock were exchanged, compared to its average volume of 2,411,717. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The business’s 50-day moving average price is $168.68 and its 200 day moving average price is $183.83. The company has a market capitalization of $30.91 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 0.82 and a beta of 0.94.

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

Analysts Set New Price Targets

A number of equities analysts have commented on VEEV shares. Zacks Research cut Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Citigroup upped their price target on Veeva Systems from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. BTIG Research reissued a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, BNP Paribas Exane reiterated an “outperform” rating and issued a $285.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $250.96.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated 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 approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

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.