Nwam LLC Acquires 2,958 Shares of Veeva Systems Inc. $VEEV

Nwam LLC increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 26.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,084 shares of the technology company’s stock after purchasing an additional 2,958 shares during the quarter. Nwam LLC’s holdings in Veeva Systems were worth $2,474,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Sivia Capital Partners LLC lifted its stake in Veeva Systems by 225.9% in the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after buying an additional 2,164 shares in the last quarter. Bank of Nova Scotia increased its position in shares of Veeva Systems by 44.5% during the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock worth $1,689,000 after acquiring an additional 1,806 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Veeva Systems by 34.6% during the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after acquiring an additional 2,272 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of 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 worth $19,856,000 after acquiring an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC raised its holdings in shares of Veeva Systems by 5.3% during 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 during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of research analyst reports. UBS Group reduced their target price on shares of Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Piper Sandler cut their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, BTIG Research reiterated a “buy” rating and set a $340.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $247.74.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Veeva Systems Price Performance

Veeva Systems stock opened at $193.71 on Thursday. The company has a market cap of $31.47 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 0.83 and a beta of 0.94. The firm has a 50-day moving average of $170.48 and a 200-day moving average of $182.95. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV) last released 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 return on equity of 13.72% and a net margin of 28.37%.The business had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the previous year, the business earned $1.97 earnings per share. Veeva Systems’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. As a group, sell-side analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Veeva Systems Company 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.