Barlow Wealth Partners LLC Sells 16,908 Shares of Veeva Systems Inc. $VEEV

Barlow Wealth Partners LLC lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 31.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,089 shares of the technology company’s stock after selling 16,908 shares during the quarter. Barlow Wealth Partners LLC’s holdings in Veeva Systems were worth $8,906,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of VEEV. Linden Thomas Advisory Services LLC raised its holdings in Veeva Systems by 0.3% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company’s stock valued at $3,707,000 after acquiring an additional 35 shares during the period. Personal CFO Solutions LLC boosted its holdings in shares of Veeva Systems by 3.5% during the third quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company’s stock worth $346,000 after acquiring an additional 39 shares during the period. AFT Forsyth & Company Inc. boosted its holdings in shares of Veeva Systems by 4.2% during the third quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company’s stock worth $293,000 after acquiring an additional 40 shares during the period. Williams Jones Wealth Management LLC. grew its position in shares of Veeva Systems by 0.4% in the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock valued at $2,806,000 after purchasing an additional 40 shares during the last quarter. Finally, Private Trust Co. NA grew its position in shares of Veeva Systems by 17.1% in the third quarter. Private Trust Co. NA now owns 281 shares of the technology company’s stock valued at $84,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays dropped their price target on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada decreased their price objective on Veeva Systems from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Citigroup lowered their price objective on Veeva Systems from $319.00 to $291.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. KeyCorp reissued a “sector weight” rating on shares of Veeva Systems in a report on Friday, December 12th. Finally, Needham & Company LLC decreased their price target on shares of Veeva Systems from $355.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $283.70.

Veeva Systems Trading Up 0.0%

Shares of VEEV stock opened at $172.61 on Monday. The stock has a market cap of $28.19 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. Veeva Systems Inc. has a 1 year low of $168.13 and a 1 year high of $310.50. The stock has a 50 day simple moving average of $190.20 and a 200 day simple moving average of $236.89.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, topping 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 13.80% and a net margin of 28.44%.The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company earned $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. Analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems declared that its board has approved a stock repurchase plan on Monday, January 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the transaction, the insider owned 23,204 shares in the company, valued at approximately $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.30% of the company’s stock.

About Veeva Systems

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.