HF Advisory Group LLC Boosts Stock Holdings in Veeva Systems Inc. $VEEV

HF Advisory Group LLC boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 2,272.3% during the 4th quarter, Holdings Channel reports. The firm owned 60,896 shares of the technology company’s stock after buying an additional 58,329 shares during the quarter. Veeva Systems makes up about 0.5% of HF Advisory Group LLC’s holdings, making the stock its 27th biggest position. HF Advisory Group LLC’s holdings in Veeva Systems were worth $13,594,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at about $340,000. Rockland Trust Co. boosted its stake in Veeva Systems by 19.8% during the fourth quarter. Rockland Trust Co. now owns 119,208 shares of the technology company’s stock valued at $26,611,000 after buying an additional 19,703 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Veeva Systems by 2.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,803 shares of the technology company’s stock valued at $9,834,000 after buying an additional 974 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in Veeva Systems by 1.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 59,268 shares of the technology company’s stock valued at $13,230,000 after buying an additional 868 shares in the last quarter. Finally, Private Advisory Group LLC purchased a new position in Veeva Systems during the 4th quarter valued at approximately $229,000. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VEEV. Oppenheimer cut their target price on shares of Veeva Systems from $325.00 to $275.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. KeyCorp reiterated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. The Goldman Sachs Group started coverage on shares of Veeva Systems in a report on Tuesday, January 13th. They issued a “sell” rating and a $215.00 target price on the stock. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Canaccord Genuity Group lowered their price objective on Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $283.70.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the transaction, the insider owned 23,204 shares in the company, valued at $5,370,101.72. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Trading Down 1.6%

Veeva Systems stock opened at $172.81 on Thursday. The firm has a 50-day moving average price of $187.52 and a 200-day moving average price of $235.01. The firm has a market capitalization of $28.23 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. Veeva Systems Inc. has a 12-month low of $168.13 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, sell-side analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems announced that its Board of Directors has initiated a share buyback plan on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 5.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.