Pacer Advisors Inc. Sells 57,313 Shares of Veeva Systems Inc. $VEEV

Pacer Advisors Inc. decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 50.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,568 shares of the technology company’s stock after selling 57,313 shares during the period. Pacer Advisors Inc.’s holdings in Veeva Systems were worth $12,628,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Sivia Capital Partners LLC increased its position in shares of Veeva Systems by 225.9% during the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after acquiring an additional 2,164 shares during the last quarter. Bank of Nova Scotia boosted its position in Veeva Systems by 44.5% in the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock worth $1,689,000 after purchasing an additional 1,806 shares during the last quarter. NewEdge Advisors LLC boosted its position in Veeva Systems by 34.6% in the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after purchasing an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Veeva Systems by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock valued at $19,856,000 after purchasing an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC grew its stake in Veeva Systems by 5.3% in the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock valued at $3,140,000 after purchasing an additional 575 shares during the period. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VEEV shares. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Morgan Stanley boosted their price target on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Citigroup increased their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Piper Sandler decreased their price objective on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $250.96.

Veeva Systems Trading Down 0.1%

Shares of NYSE VEEV opened at $153.20 on Friday. The stock has a fifty day simple moving average of $163.55 and a two-hundred day simple moving average of $189.23. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The firm has a market cap of $24.89 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same period in the previous year, the company posted $1.97 earnings per share. The business’s revenue was up 16.3% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current year.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 Company 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.