Mission Wealth Management LP Sells 6,073 Shares of Veeva Systems Inc. $VEEV

Mission Wealth Management LP decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 26.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 16,763 shares of the technology company’s stock after selling 6,073 shares during the period. Mission Wealth Management LP’s holdings in Veeva Systems were worth $3,742,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of VEEV. Alphinity Investment Management Pty Ltd bought a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $422,241,000. Durable Capital Partners LP bought a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $281,351,000. ABN AMRO Bank N.V. bought a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $246,625,000. AQR Capital Management LLC raised its stake in shares of Veeva Systems by 31.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after purchasing an additional 574,164 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Veeva Systems by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock worth $4,596,522,000 after purchasing an additional 457,806 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VEEV. TD Cowen dropped their price objective on Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Royal Bank Of Canada dropped their price objective on Veeva Systems from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Canaccord Genuity Group dropped their price objective on Veeva Systems from $280.00 to $235.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Finally, Truist Financial reiterated a “buy” rating and set a $262.00 price objective (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $276.52.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $163.98 on Tuesday. The stock’s fifty day moving average price is $170.83 and its two-hundred day moving average price is $207.29. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The firm has a market cap of $26.78 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 0.71 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same period in the prior year, the firm posted $1.74 EPS. The company’s revenue for the quarter 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. On average, equities analysts anticipate that Veeva Systems Inc. will post 6.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a legal filing 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 corporate insiders.

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.