New England Research & Management Inc. Buys 6,165 Shares of Veeva Systems Inc. $VEEV

New England Research & Management Inc. lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 274.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,415 shares of the technology company’s stock after buying an additional 6,165 shares during the period. New England Research & Management Inc.’s holdings in Veeva Systems were worth $1,878,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Alphinity Investment Management Pty Ltd bought a new position in Veeva Systems during the third quarter valued at about $422,241,000. Norges Bank acquired a new position in Veeva Systems in the 2nd quarter valued at approximately $384,265,000. Durable Capital Partners LP bought a new stake in shares of Veeva Systems in the 2nd quarter worth approximately $281,351,000. AQR Capital Management LLC lifted its position in shares of Veeva Systems by 111.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock worth $526,508,000 after acquiring an additional 969,905 shares during the period. Finally, Schroder Investment Management Group grew its holdings in shares of Veeva Systems by 1,039.4% during the 2nd quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock worth $292,292,000 after purchasing an additional 925,896 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VEEV. Oppenheimer lowered their price objective on Veeva Systems from $325.00 to $275.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Canaccord Genuity Group reduced their target price on Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, March 5th. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Jefferies Financial Group reissued a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a report on Monday, November 24th. Finally, UBS Group increased their price objective on shares of Veeva Systems from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $283.70.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the sale, the insider owned 23,204 shares in the company, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $184.16 on Friday. The company has a market capitalization of $30.27 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 1.22 and a beta of 1.09. Veeva Systems Inc. has a one year low of $168.13 and a one year high of $310.50. The business has a 50 day simple moving average of $194.75 and a 200 day simple moving average of $240.55.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The business had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same quarter in the previous year, the firm earned $1.74 EPS. Veeva Systems’s quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Equities analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems declared that its board has approved a share buyback plan on Monday, January 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.