Empowered Funds LLC Purchases 59,909 Shares of Veeva Systems Inc. $VEEV

Empowered Funds LLC boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 1,604.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 63,642 shares of the technology company’s stock after purchasing an additional 59,909 shares during the period. Empowered Funds LLC’s holdings in Veeva Systems were worth $11,179,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SHP Wealth Management acquired a new position in Veeva Systems during the fourth quarter worth approximately $26,000. Newbridge Financial Services Group Inc. lifted its position in shares of Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Activest Wealth Management lifted its position in shares of Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 127 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $30,000. Finally, Reflection Asset Management bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $32,000. Institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VEEV shares. Guggenheim initiated coverage on Veeva Systems in a research note on Thursday, July 23rd. They issued a “buy” rating and a $232.00 price target on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Wells Fargo & Company increased their price objective on shares of Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Finally, Oppenheimer restated an “outperform” rating on shares of Veeva Systems in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $247.08.

Veeva Systems Price Performance

VEEV opened at $202.06 on Friday. The business has a fifty day simple moving average of $177.69 and a 200 day simple moving average of $180.24. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The company has a market capitalization of $32.82 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 0.89 and a beta of 0.94.

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

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.