Corient Private Wealth LLC Boosts Stake in Veeva Systems Inc. $VEEV

Corient Private Wealth LLC grew its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 162,711 shares of the technology company’s stock after acquiring an additional 15,244 shares during the period. Corient Private Wealth LLC’s holdings in Veeva Systems were worth $36,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Personal CFO Solutions LLC grew its holdings in shares of Veeva Systems by 3.5% during the 3rd 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 period. Williams Jones Wealth Management LLC. lifted its position in Veeva Systems by 0.4% during 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 buying an additional 40 shares in the last quarter. Rafferty Asset Management LLC grew its stake in Veeva Systems by 0.7% during the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock worth $1,982,000 after buying an additional 51 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Veeva Systems by 8.1% in the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock worth $214,000 after acquiring an additional 54 shares in the last quarter. Finally, Northwest Wealth Management LLC increased its position in shares of Veeva Systems by 6.1% in the fourth quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company’s stock worth $213,000 after acquiring an additional 55 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VEEV. The Goldman Sachs Group cut their target price on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research note on Thursday, June 4th. Zacks Research cut shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Stifel Nicolaus cut their price objective on Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

Veeva Systems Stock Performance

NYSE:VEEV opened at $153.20 on Monday. The stock 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 Inc. has a one year low of $148.05 and a one year high of $310.50. The business’s 50-day simple moving average is $163.55 and its 200 day simple moving average is $188.87.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same period in the previous year, the business earned $1.97 EPS. Veeva Systems’s revenue for the quarter was up 16.3% compared to the same quarter last year. 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. On average, equities research analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% 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.