First Growth Capital LLC Buys New Stake in Veeva Systems Inc. $VEEV

First Growth Capital LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the first quarter, Holdings Channel reports. The firm acquired 2,729 shares of the technology company’s stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors have also modified their holdings of VEEV. SHP Wealth Management acquired a new stake in shares of Veeva Systems in the 4th quarter valued at $26,000. Board of the Pension Protection Fund bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. grew its position in Veeva Systems by 322.6% during the 4th 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 during the last quarter. Activest Wealth Management raised its position in Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 127 shares during the last quarter. Finally, MV Capital Management Inc. bought a new stake in shares of Veeva Systems during the fourth quarter worth $30,000. Institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 0.1%

Shares of VEEV stock opened at $190.27 on Monday. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The firm has a fifty day moving average of $168.68 and a 200-day moving average of $183.56. The firm has a market capitalization of $30.91 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on VEEV. UBS Group lowered their price objective on shares of Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. BMO Capital Markets lowered their target price on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. Weiss Ratings cut Veeva Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. Stifel Nicolaus cut their target price on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, June 4th. Finally, TD Cowen reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $250.96.

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.