West Family Investments Inc. Takes Position in Veeva Systems Inc. $VEEV

West Family Investments Inc. bought a new position in Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,671 shares of the technology company’s stock, valued at approximately $651,000.

A number of other hedge funds also recently made changes to their positions in VEEV. California State Teachers Retirement System boosted its stake in Veeva Systems by 16,590.3% during the second quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company’s stock valued at $6,990,228,000 after buying an additional 39,152,230 shares during the last quarter. Norges Bank bought a new stake in Veeva Systems in the 4th quarter worth approximately $332,412,000. Durable Capital Partners LP purchased a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $281,351,000. Fundsmith LLP purchased a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $144,955,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after acquiring an additional 611,868 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a report on Thursday, August 27th. Barclays increased their price target on shares of Veeva Systems from $275.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Guggenheim lifted their price target on Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Citigroup boosted their price objective on Veeva Systems from $190.00 to $273.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Finally, Morgan Stanley upped their price objective on Veeva Systems from $215.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.88.

Veeva Systems Price Performance

NYSE VEEV traded down $9.98 during trading on Tuesday, reaching $265.11. 1,467,550 shares of the company’s stock traded hands, compared to its average volume of 2,455,549. The firm has a market cap of $42.92 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The company’s 50 day simple moving average is $224.19 and its two-hundred day simple moving average is $189.32.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.The company had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter last year, the company earned $1.99 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. Research analysts expect that Veeva Systems Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas Schwenger sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the sale, the insider owned 19,449 shares in the company, valued at approximately $5,471,587.17. The trade was a 33.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Veeva Systems 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.