Edgestream Partners L.P. Acquires New Position in Veeva Systems Inc. $VEEV

Edgestream Partners L.P. bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 31,839 shares of the technology company’s stock, valued at approximately $5,593,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of Veeva Systems by 2.0% in the 1st quarter. Janus Henderson Group PLC now owns 16,038 shares of the technology company’s stock valued at $2,817,000 after purchasing an additional 320 shares in the last quarter. Cim LLC raised its position in Veeva Systems by 1.2% in the 1st quarter. Cim LLC now owns 5,778 shares of the technology company’s stock worth $1,015,000 after purchasing an additional 66 shares during the period. Bull Harbor Capital LLC bought a new stake in Veeva Systems in the first quarter worth $874,000. Arkadios Wealth Advisors lifted its stake in Veeva Systems by 9.4% in the first quarter. Arkadios Wealth Advisors now owns 4,007 shares of the technology company’s stock worth $704,000 after purchasing an additional 345 shares during the last quarter. Finally, Smith Group Asset Management LLC lifted its stake in Veeva Systems by 7.4% in the first quarter. Smith Group Asset Management LLC now owns 107,445 shares of the technology company’s stock worth $18,874,000 after purchasing an additional 7,398 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 2.8%

Shares of Veeva Systems stock opened at $202.06 on Friday. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The company has a market cap of $32.82 billion, a P/E ratio of 36.02, a PEG ratio of 0.89 and a beta of 0.94. The company’s fifty day simple moving average is $177.69 and its two-hundred day simple moving average is $180.24.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company posted $1.97 EPS. 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. Analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Zacks Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Weiss Ratings upgraded Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Finally, UBS Group decreased their price target on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

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.