Rockland Trust Co. Grows Stake in Veeva Systems Inc. $VEEV

Rockland Trust Co. lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 21.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 173,760 shares of the technology company’s stock after acquiring an additional 30,678 shares during the quarter. Veeva Systems comprises approximately 1.2% of Rockland Trust Co.’s portfolio, making the stock its 24th largest position. Rockland Trust Co.’s holdings in Veeva Systems were worth $30,837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. SHP Wealth Management purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $26,000. Newbridge Financial Services Group Inc. boosted its holdings in Veeva Systems by 322.6% in 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 period. Activest Wealth Management grew its position in Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in Veeva Systems in the second quarter valued at approximately $29,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $229.93 on Friday. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The firm’s 50-day simple moving average is $183.83 and its 200-day simple moving average is $180.11. The firm has a market cap of $37.35 billion, a PE ratio of 40.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92.

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, beating the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.Veeva Systems’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $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. On average, equities analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Analyst Ratings Changes

VEEV has been the topic of a number of recent research reports. Mizuho reduced their target price on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Oppenheimer reaffirmed an “outperform” rating on shares of Veeva Systems in a research note on Monday, July 20th. Guggenheim started coverage on shares of Veeva Systems in a report on Thursday, July 23rd. They issued a “buy” rating and a $232.00 price objective on the stock. The Goldman Sachs Group lowered their target price on Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a research note on Thursday, June 4th. Finally, UBS Group cut their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

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.