Baldwin Wealth Partners LLC MA Sells 4,074 Shares of Veeva Systems Inc. $VEEV

Baldwin Wealth Partners LLC MA cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 14.1% in the 4th quarter, HoldingsChannel reports. The fund owned 24,813 shares of the technology company’s stock after selling 4,074 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Veeva Systems were worth $5,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Jensen Investment Management Inc. grew its position in shares of Veeva Systems by 1,924.5% during the 3rd quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock worth $123,100,000 after purchasing an additional 392,802 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 11.2% in the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock valued at $1,146,040,000 after buying an additional 388,864 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of Veeva Systems in the third quarter valued at approximately $422,241,000. Compass Wealth Management LLC bought a new stake in shares of Veeva Systems in the third quarter valued at approximately $18,694,000. Finally, ABN AMRO Bank N.V. acquired a new stake in Veeva Systems during the third quarter worth approximately $246,625,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.8%

Shares of NYSE:VEEV opened at $184.16 on Friday. The firm has a market cap of $30.27 billion, a P/E ratio of 34.04, a P/E/G ratio of 1.23 and a beta of 1.09. Veeva Systems Inc. has a 12-month low of $168.13 and a 12-month high of $310.50. The business has a fifty day simple moving average of $194.75 and a 200 day simple moving average of $240.76.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous 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, equities research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems announced that its Board of Directors has approved a share buyback plan on Monday, January 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology company to buy 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 stock is undervalued.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent research reports. KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a research note on Friday, December 12th. The Goldman Sachs Group began coverage on Veeva Systems in a report on Tuesday, January 13th. They set a “sell” rating and a $215.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a research report on Monday, November 24th. Weiss Ratings downgraded Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Royal Bank Of Canada cut their price objective on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $283.70.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the sale, the insider directly owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.30% of the stock is owned by insiders.

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.