First Growth Capital LLC Purchases Shares of 2,729 Veeva Systems Inc. $VEEV

First Growth Capital LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,729 shares of the technology company’s stock, valued at approximately $471,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of VEEV. Sivia Capital Partners LLC boosted its holdings in Veeva Systems by 225.9% during the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock worth $899,000 after buying an additional 2,164 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Veeva Systems by 44.5% in the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after purchasing an additional 1,806 shares during the period. NewEdge Advisors LLC increased its stake in Veeva Systems by 34.6% in the 2nd 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 in the last quarter. Treasurer of the State of North Carolina lifted its stake in Veeva Systems by 2.2% during the second 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 buying an additional 1,452 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its position in shares of Veeva Systems by 5.3% in the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock worth $3,140,000 after acquiring an additional 575 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

VEEV opened at $190.27 on Monday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The business has a 50 day moving average price of $168.68 and a 200 day moving average price of $183.56. The firm has a market cap of $30.91 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same period last year, the business posted $1.97 EPS. Veeva Systems’s 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, analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on VEEV. Needham & Company LLC reissued a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Piper Sandler reduced their price target on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Mizuho dropped their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. The Goldman Sachs Group dropped their price target 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. Finally, Zacks Research downgraded Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director owned 3,253 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. 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.