Capricorn Fund Managers Ltd Takes Position in Veeva Systems Inc. $VEEV

Capricorn Fund Managers Ltd bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the first quarter, according to its most recent filing with the SEC. The fund bought 5,000 shares of the technology company’s stock, valued at approximately $878,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SJS Investment Consulting Inc. increased its holdings in Veeva Systems by 29.7% during the first quarter. SJS Investment Consulting Inc. now owns 1,388 shares of the technology company’s stock worth $244,000 after buying an additional 318 shares during the last quarter. Inspire Investing LLC raised its position in Veeva Systems by 7.2% in the first quarter. Inspire Investing LLC now owns 18,143 shares of the technology company’s stock worth $3,187,000 after acquiring an additional 1,224 shares during the period. Simmons Bank boosted its stake in Veeva Systems by 13.1% in the first quarter. Simmons Bank now owns 15,022 shares of the technology company’s stock valued at $2,639,000 after acquiring an additional 1,743 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its stake in Veeva Systems by 57.4% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 75,916 shares of the technology company’s stock valued at $13,335,000 after purchasing an additional 27,678 shares during the last quarter. Finally, waypoint wealth counsel bought a new position in shares of Veeva Systems during the 1st quarter worth $281,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $177.69 on Wednesday. The company has a 50 day simple moving average of $164.13 and a two-hundred day simple moving average of $185.30. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The company has a market capitalization of $28.86 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 0.76 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $857.73 million. During the same period in the prior year, the firm posted $1.97 earnings per share. The company’s quarterly 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. On average, analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of recent research reports. Canaccord Genuity Group reduced their price objective on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Citigroup lifted their price objective on Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $275.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Morgan Stanley raised their price target on Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Finally, Robert W. Baird lifted their target price on shares of Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $250.96.

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.