Veeva Systems Inc. $VEEV Shares Purchased by Rockland Trust Co.

Rockland Trust Co. boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 21.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 173,760 shares of the technology company’s stock after buying an additional 30,678 shares during the quarter. Veeva Systems makes up about 1.2% of Rockland Trust Co.’s holdings, making the stock its 24th biggest position. Rockland Trust Co. owned about 0.11% of Veeva Systems worth $30,837,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its stake in shares of Veeva Systems by 11.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock worth $199,137,000 after purchasing an additional 90,703 shares during the last quarter. Empire Life Investments Inc. lifted its stake in shares of Veeva Systems by 21.1% during the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock valued at $8,272,000 after buying an additional 6,453 shares during the period. Farther Finance Advisors LLC boosted its position in Veeva Systems by 217.2% during the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock worth $2,337,000 after acquiring an additional 7,169 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Veeva Systems by 14.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock worth $247,817,000 after acquiring an additional 137,965 shares during the last quarter. Finally, KBC Group NV grew its stake in Veeva Systems by 180.2% in the 4th quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock worth $44,900,000 after acquiring an additional 129,346 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $229.93 on Friday. The company has a market cap of $37.35 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The stock’s 50-day moving average is $183.83 and its 200-day moving average is $180.11.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $857.73 million. During the same quarter in the previous year, the business earned $1.97 EPS. The company’s revenue for the quarter 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. Research analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Veeva Systems from $176.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. The Goldman Sachs Group decreased their price target on Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research note on Thursday, June 4th. UBS Group dropped their price objective 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. TD Cowen reissued a “buy” rating on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group lowered their target price on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

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.