Allstate Corp Grows Position in Veeva Systems Inc. $VEEV

Allstate Corp lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 101.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,827 shares of the technology company’s stock after buying an additional 5,965 shares during the period. Allstate Corp’s holdings in Veeva Systems were worth $2,640,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Linden Thomas Advisory Services LLC boosted its position in shares of Veeva Systems by 0.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company’s stock valued at $3,707,000 after buying an additional 35 shares during the last quarter. Personal CFO Solutions LLC boosted its position in Veeva Systems by 3.5% in the third quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company’s stock worth $346,000 after purchasing an additional 39 shares during the last quarter. AFT Forsyth & Company Inc. boosted its position in Veeva Systems by 4.2% in the third quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company’s stock worth $293,000 after purchasing an additional 40 shares during the last quarter. Williams Jones Wealth Management LLC. boosted its position in 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 worth $2,806,000 after purchasing an additional 40 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Veeva Systems by 0.7% in the third quarter. CIBC Asset Management Inc now owns 6,821 shares of the technology company’s stock worth $2,032,000 after purchasing an additional 45 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. TD Cowen dropped their target price on Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Piper Sandler dropped their target price on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Canaccord Genuity Group decreased their target price on Veeva Systems from $280.00 to $235.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. UBS Group lifted their target price on Veeva Systems from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, Barclays reduced their price target on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.52.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 0.1%

NYSE VEEV opened at $158.69 on Thursday. The stock’s 50-day moving average price is $167.03 and its 200-day moving average price is $200.87. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The company has a market capitalization of $25.92 billion, a P/E ratio of 29.33, a price-to-earnings-growth ratio of 0.70 and a beta of 0.92.

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 the consensus estimate of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. During the same quarter last year, the company earned $1.74 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Research analysts anticipate that Veeva Systems Inc. will post 6.45 EPS for the current year.

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.