CHICAGO TRUST Co NA Buys 4,590 Shares of Veeva Systems Inc. $VEEV

CHICAGO TRUST Co NA grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 247.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,445 shares of the technology company’s stock after acquiring an additional 4,590 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Veeva Systems were worth $1,132,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. SHP Wealth Management bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems in the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. boosted its holdings in Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Activest Wealth Management boosted its holdings in Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 127 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in Veeva Systems in the fourth quarter valued at $30,000. Institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on VEEV shares. Barclays decreased their price objective on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Truist Financial reissued a “buy” rating and issued a $262.00 price objective (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Finally, TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $250.96.

Veeva Systems Stock Up 3.9%

VEEV opened at $184.45 on Thursday. The company has a market capitalization of $29.96 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 0.76 and a beta of 0.94. The firm has a 50-day simple moving average of $164.44 and a two-hundred day simple moving average of $184.98. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same period in the previous year, the firm earned $1.97 earnings per share. Veeva Systems’s quarterly revenue 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. As a group, sell-side analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 3,253 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by insiders.

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.