Veeva Systems Inc. $VEEV Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 24.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 341,728 shares of the technology company’s stock after selling 112,988 shares during the period. Brown Advisory Inc.’s holdings in Veeva Systems were worth $76,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Veeva Systems by 3.1% during the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock worth $4,596,522,000 after acquiring an additional 457,806 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Veeva Systems by 4.1% in the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after buying an additional 235,983 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company’s stock valued at $863,978,000 after buying an additional 23,416 shares in the last quarter. State Street Corp grew its stake in shares of Veeva Systems by 2.4% in the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock valued at $801,267,000 after buying an additional 85,695 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Veeva Systems by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock valued at $1,035,622,000 after buying an additional 159,984 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VEEV shares. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Evercore reiterated an “outperform” rating and issued a $185.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. UBS Group lowered their target price on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Truist Financial reiterated a “buy” rating and issued a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. lowered their target price on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Eighteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $159.44 on Monday. The company has a market capitalization of $25.90 billion, a P/E ratio of 28.42, a P/E/G ratio of 0.69 and a beta of 0.95. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The stock has a 50-day moving average price of $165.06 and a 200 day moving average price of $191.80.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.Veeva Systems’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.97 earnings per share. 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, equities research analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

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.