Legacy Capital Group California Inc. Buys Shares of 4,157 Veeva Systems Inc. $VEEV

Legacy Capital Group California Inc. bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,157 shares of the technology company’s stock, valued at approximately $730,000.

Other large investors have also recently made changes to their positions in the company. Williams Jones Wealth Management LLC. lifted its holdings in Veeva Systems by 0.4% during the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock worth $2,806,000 after purchasing an additional 40 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in Veeva Systems by 4.3% during the 4th quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company’s stock valued at $271,000 after buying an additional 50 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in Veeva Systems by 0.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock valued at $1,982,000 after buying an additional 51 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Veeva Systems by 8.1% during the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock valued at $214,000 after buying an additional 54 shares during the period. Finally, Northwest Wealth Management LLC increased its position in shares of Veeva Systems by 6.1% during the fourth quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company’s stock valued at $213,000 after buying an additional 55 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $197.16 on Tuesday. The stock has a market capitalization of $32.03 billion, a P/E ratio of 35.15, a PEG ratio of 0.82 and a beta of 0.94. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The firm’s 50 day simple moving average is $169.51 and its two-hundred day simple moving average is $183.36.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating 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 company had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. During the same quarter in the prior year, the company earned $1.97 EPS. The firm’s 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. As a group, equities analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction 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. Corporate insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on VEEV. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. The Goldman Sachs Group decreased their target price on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a report on Thursday, June 4th. Piper Sandler lowered their target price on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Needham & Company LLC restated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group reduced their price target on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $247.74.

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.