MH & Associates Securities Management Corp ADV Acquires 10,964 Shares of Veeva Systems Inc. $VEEV

MH & Associates Securities Management Corp ADV acquired a new position in Veeva Systems Inc. (NYSE:VEEV) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,964 shares of the technology company’s stock, valued at approximately $3,130,000. Veeva Systems accounts for 2.7% of MH & Associates Securities Management Corp ADV’s portfolio, making the stock its 15th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares during the period. Amundi boosted its stake in shares of Veeva Systems by 8.0% in the first quarter. Amundi now owns 992,977 shares of the technology company’s stock worth $174,426,000 after buying an additional 73,510 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Veeva Systems by 203.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after buying an additional 611,868 shares during the last quarter. Royal Bank of Canada grew its holdings in Veeva Systems by 2.7% during the first quarter. Royal Bank of Canada now owns 870,281 shares of the technology company’s stock worth $152,873,000 after acquiring an additional 23,117 shares during the period. Finally, Fundsmith LLP acquired a new stake in Veeva Systems during the second quarter worth about $144,955,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 5,198 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $299.72, for a total transaction of $1,557,944.56. Following the transaction, the senior vice president directly owned 4,130 shares in the company, valued at $1,237,843.60. The trade was a 55.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel Rizzo sold 4,841 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total value of $1,338,584.91. Following the completion of the sale, the executive vice president owned 7,665 shares of the company’s stock, valued at $2,119,449.15. This trade represents a 38.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 56,789 shares of company stock valued at $14,913,889. Company insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 2.5%

VEEV stock opened at $310.79 on Thursday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $325.99. The firm has a 50-day simple moving average of $287.53 and a 200-day simple moving average of $211.07. The stock has a market capitalization of $50.32 billion, a P/E ratio of 51.12, a P/E/G ratio of 1.29 and a beta of 0.89.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.99 EPS. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. On average, analysts expect that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on VEEV. UBS Group upped their price objective on Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Royal Bank Of Canada lifted their price objective on shares of Veeva Systems from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Stifel Nicolaus set a $300.00 target price on shares of Veeva Systems in a research note on Thursday, August 27th. Finally, Robert W. Baird upped their price target on Veeva Systems from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, October 26th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $293.21.

About Veeva Systems

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.