Robinhood Asset Management LLC Acquires Shares of 2,907 Veeva Systems Inc. $VEEV

Robinhood Asset Management LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,907 shares of the technology company’s stock, valued at approximately $649,000.

A number of other institutional investors have also recently bought and sold shares of VEEV. Jensen Investment Management Inc. lifted its holdings in shares of Veeva Systems by 1,924.5% during the 3rd quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock worth $123,100,000 after acquiring an additional 392,802 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock worth $1,146,040,000 after acquiring an additional 388,864 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $422,241,000. Compass Wealth Management LLC bought a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $18,694,000. Finally, ABN AMRO Bank N.V. bought a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $246,625,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV stock opened at $174.79 on Tuesday. The company has a 50 day simple moving average of $184.56 and a 200 day simple moving average of $232.57. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 32.31, a P/E/G ratio of 1.15 and a beta of 1.10. Veeva Systems Inc. has a 1 year low of $168.13 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The firm had revenue of $835.95 million during the quarter, compared to analysts’ expectations of $810.95 million. During the same period in the prior year, the company posted $1.74 EPS. The company’s 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, equities research analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems declared that its Board of Directors has initiated a stock buyback plan on Monday, January 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology company to purchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the transaction, the insider directly owned 23,204 shares in the company, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 10.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VEEV. Morgan Stanley upped 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. Piper Sandler cut their price target on shares of Veeva Systems from $355.00 to $285.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Weiss Ratings downgraded shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Citigroup cut their price target on shares of Veeva Systems from $319.00 to $291.00 and set a “buy” rating for the company in a report on Monday, March 9th. Finally, The Goldman Sachs Group assumed coverage on shares of Veeva Systems in a research report on Tuesday, January 13th. They set a “sell” rating and a $215.00 price objective for the company. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.70.

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.