5,061 Shares in Veeva Systems Inc. $VEEV Acquired by Directional Asset Management

Directional Asset Management bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,061 shares of the technology company’s stock, valued at approximately $1,130,000. Veeva Systems makes up about 1.0% of Directional Asset Management’s portfolio, making the stock its 29th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC increased its holdings in Veeva Systems by 196.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after acquiring an additional 55 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Veeva Systems in the 3rd quarter worth approximately $28,000. OLD Second National Bank of Aurora purchased a new stake in Veeva Systems in the 3rd quarter worth approximately $30,000. Board of the Pension Protection Fund purchased a new stake in Veeva Systems in the 4th quarter worth approximately $27,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

Shares of VEEV opened at $156.19 on Friday. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The company has a 50 day simple moving average of $176.60 and a two-hundred day simple moving average of $222.10. The firm has a market cap of $25.51 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (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 period last year, the firm 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, sell-side analysts anticipate that Veeva Systems Inc. will post 6.41 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Veeva Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Needham & Company LLC reduced their target price on shares of Veeva Systems from $355.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Barclays cut their price objective on shares of Veeva Systems from $305.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. TD Cowen cut their price objective on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Royal Bank Of Canada cut their price objective on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.70.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $153.50, for a total transaction of $115,125.00. Following the completion of the transaction, the director directly owned 4,003 shares in the company, valued at approximately $614,460.50. This represents a 15.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.30% of the company’s stock.

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.