Bath Savings Trust Co Acquires 5,163 Shares of Veeva Systems Inc. $VEEV

Bath Savings Trust Co lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,049 shares of the technology company’s stock after purchasing an additional 5,163 shares during the period. Veeva Systems accounts for 1.0% of Bath Savings Trust Co’s holdings, making the stock its 26th biggest holding. Bath Savings Trust Co’s holdings in Veeva Systems were worth $10,503,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of VEEV. GPS Wealth Strategies Group LLC raised its position in Veeva Systems by 196.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after purchasing an additional 55 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in Veeva Systems during the 4th quarter worth about $27,000. Raiffeisen Bank International AG bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $28,000. OLD Second National Bank of Aurora bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $30,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Veeva Systems by 58.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock valued at $38,000 after buying an additional 49 shares during the period. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of recent analyst reports. Weiss Ratings lowered Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Royal Bank Of Canada decreased their target price on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Morgan Stanley raised 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. KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. Finally, The Goldman Sachs Group assumed coverage on shares of Veeva Systems in a research note on Tuesday, January 13th. They issued a “sell” rating and a $215.00 price objective on the stock. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $283.70.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the sale, the insider owned 23,204 shares in the company, valued at $5,370,101.72. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.30% of the stock is currently owned by insiders.

Veeva Systems Stock Down 3.3%

Shares of VEEV opened at $179.20 on Wednesday. The business’s fifty day moving average is $192.81 and its 200 day moving average is $239.08. Veeva Systems Inc. has a 12-month low of $168.13 and a 12-month high of $310.50. The stock has a market cap of $29.46 billion, a P/E ratio of 33.12, a P/E/G ratio of 1.22 and a beta of 1.09.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. During the same quarter in the previous year, the business posted $1.74 EPS. Veeva Systems’s quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems announced that its Board of Directors has approved a stock repurchase program on Monday, January 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.