West Family Investments Inc. Invests $651,000 in Veeva Systems Inc. $VEEV

West Family Investments Inc. purchased a new position in Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,671 shares of the technology company’s stock, valued at approximately $651,000.

A number of other hedge funds also recently bought and sold shares of the company. Empire Life Investments Inc. increased its position 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 acquiring an additional 6,453 shares in the last quarter. Czech National Bank bought a new position in Veeva Systems in the 2nd quarter valued at approximately $7,584,000. BNP Paribas boosted its stake in Veeva Systems by 89.3% during the 4th quarter. BNP Paribas now owns 19,239 shares of the technology company’s stock valued at $4,308,000 after purchasing an additional 9,077 shares during the last quarter. ABN Amro Investment Solutions boosted its stake in Veeva Systems by 28.4% during the 4th quarter. ABN Amro Investment Solutions now owns 76,809 shares of the technology company’s stock valued at $17,146,000 after purchasing an additional 17,007 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in shares of Veeva Systems in the 4th quarter worth $2,453,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 3.6%

NYSE:VEEV traded down $9.98 during trading hours on Tuesday, hitting $265.11. 1,467,550 shares of the stock traded hands, compared to its average volume of 2,455,549. The company has a market cap of $42.92 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a 50 day moving average price of $224.19 and a 200 day moving average price of $189.32.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. During the same period last year, the firm earned $1.99 EPS. The company’s revenue was up 17.6% on a year-over-year basis. 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. Equities analysts forecast that Veeva Systems Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas Schwenger sold 36,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the completion of the sale, the insider owned 19,449 shares in the company, valued at approximately $4,866,723.27. This trade represents a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BNP Paribas Exane reiterated an “outperform” rating and issued a $285.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Wall Street Zen lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Piper Sandler increased their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. BMO Capital Markets raised their target price on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a report on Thursday, August 27th. Finally, Truist Financial lifted their target price on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $284.88.

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.