Mirae Asset Global Investments Co. Ltd. Buys 49,812 Shares of Veeva Systems Inc. $VEEV

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 49,812 shares of the technology company’s stock, valued at approximately $14,219,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Investment Research & Advisory Group Inc. lifted its stake in Veeva Systems by 0.4% during the 3rd quarter. Investment Research & Advisory Group Inc. now owns 12,942 shares of the technology company’s stock valued at $3,699,000 after acquiring an additional 51 shares during the period. Lodestone Wealth Management LLC grew its stake in shares of Veeva Systems by 68.3% in the third quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock worth $39,000 after acquiring an additional 56 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in shares of Veeva Systems by 1.2% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,664 shares of the technology company’s stock valued at $1,331,000 after purchasing an additional 57 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in shares of Veeva Systems by 181.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock valued at $27,000 after purchasing an additional 60 shares during the last quarter. Finally, BOKF NA raised its holdings in shares of Veeva Systems by 1.0% during the third quarter. BOKF NA now owns 6,309 shares of the technology company’s stock valued at $1,801,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research analyst reports. Mizuho set a $345.00 price objective on shares of Veeva Systems in a research report on Thursday, October 29th. Barclays boosted their target price on shares of Veeva Systems from $360.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Morgan Stanley boosted their target price on shares of Veeva Systems from $215.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. Piper Sandler increased their price target on Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Finally, BMO Capital Markets raised their price target on Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a research note on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $293.21.

Veeva Systems Stock Down 1.1%

VEEV stock opened at $303.66 on Wednesday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $325.99. The stock has a market cap of $49.17 billion, a P/E ratio of 49.94, a PEG ratio of 1.31 and a beta of 0.89. The business’s 50-day moving average price is $286.26 and its 200-day moving average price is $210.61.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 EPS. 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. On average, equities research analysts expect that Veeva Systems Inc. will post 6.70 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total transaction of $195,780.00. Following the sale, the director owned 3,242 shares of the company’s stock, valued at approximately $846,291.68. This trade represents a 18.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 5,198 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $299.72, for a total value of $1,557,944.56. Following the completion of the transaction, the senior vice president directly owned 4,130 shares in the company, valued at approximately $1,237,843.60. This represents a 55.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 56,789 shares of company stock worth $14,913,889. 10.60% of the stock is currently owned by insiders.

About Veeva Systems

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.