Hohimer Wealth Management LLC Buys New Holdings in Veeva Systems Inc. $VEEV

Hohimer Wealth Management LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, Holdings Channel.com reports. The fund bought 5,083 shares of the technology company’s stock, valued at approximately $1,451,000.

Several other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Veeva Systems by 7.0% during the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares in the last quarter. Amundi grew its holdings in shares of Veeva Systems by 8.0% in the 1st quarter. Amundi now owns 992,977 shares of the technology company’s stock valued at $174,426,000 after buying an additional 73,510 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Veeva Systems by 203.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after buying an additional 611,868 shares in the last quarter. Royal Bank of Canada increased its position in shares of Veeva Systems by 2.7% in the 1st quarter. Royal Bank of Canada now owns 870,281 shares of the technology company’s stock valued at $152,873,000 after buying an additional 23,117 shares in the last quarter. Finally, Fundsmith LLP bought a new stake in shares of Veeva Systems in the 2nd quarter valued at $144,955,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Up 0.9%

Veeva Systems stock opened at $306.50 on Tuesday. The stock has a market capitalization of $49.63 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $325.99. The company has a 50 day moving average of $289.83 and a 200-day moving average of $212.38.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping 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 company had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the prior year, the firm earned $1.99 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. 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 anticipate that Veeva Systems Inc. will post 6.70 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings raised Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Stifel Nicolaus set a $300.00 target price on Veeva Systems in a research note on Thursday, August 27th. Jefferies Financial Group boosted their target price on Veeva Systems from $295.00 to $375.00 and gave the company a “buy” rating in a research note on Friday. Guggenheim increased their price target on Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Finally, Raymond James Financial raised their price target on Veeva Systems from $225.00 to $330.00 in a research report on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.50.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. 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 transaction, the insider owned 19,449 shares in the company, valued at approximately $4,866,723.27. This represents a 64.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jonathan Faddis sold 5,198 shares of Veeva Systems stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total value of $1,557,944.56. Following the completion of the sale, the senior vice president directly owned 4,130 shares in the company, valued at $1,237,843.60. This represents a 55.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 56,789 shares of company stock valued at $14,913,889 in the last quarter. 10.60% of the stock is currently owned by company insiders.

More Veeva Systems News

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Several analysts raised their targets. Truist lifted its target to $360 from $305 and maintained a buy rating; BTIG raised its target to $360 from $340. Another report cited a $375 target, while Needham was also reported as expecting shares to rise. The higher targets signal improved potential upside in analysts’ views. Truist price-target report BTIG price-target report Report on $375 target Needham analyst report
• Neutral Sentiment: Canaccord raised its target but kept a hold rating. The firm increased its price target to $315 from $260, a more cautious stance than the bullish revisions and a target relatively close to the cited share price. Canaccord price-target report
• Neutral Sentiment: Veeva is retesting a technical buy point. IBD named the stock its “Stock of the Day” and noted it is pressing against resistance at its 21-day moving average, which could limit near-term momentum. The coverage also references a $6 billion view. IBD article on Veeva

Veeva Systems Profile

Veeva Systems Inc develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations.

The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.

Founded in 2007 and headquartered in Pleasanton, California, Veeva serves life sciences companies in markets around the world.