Mangrove Partners IM LLC Buys Shares of 3,454 Veeva Systems Inc. $VEEV

Mangrove Partners IM LLC bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,454 shares of the technology company’s stock, valued at approximately $771,000.

Other hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its holdings in shares of Veeva Systems by 11.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock valued at $199,137,000 after acquiring an additional 90,703 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in shares of Veeva Systems by 50.2% during the third quarter. Elo Mutual Pension Insurance Co now owns 26,541 shares of the technology company’s stock valued at $7,907,000 after acquiring an additional 8,869 shares during the last quarter. Empire Life Investments Inc. raised its holdings 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 during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Veeva Systems by 4.1% during the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after acquiring an additional 235,983 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Veeva Systems by 217.2% during the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock valued at $2,337,000 after acquiring an additional 7,169 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.7%

VEEV stock opened at $163.24 on Wednesday. The business has a fifty day moving average of $164.61 and a two-hundred day moving average of $190.70. The stock has a market cap of $26.52 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 0.70 and a beta of 0.95. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.

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

Analyst Ratings Changes

Several equities research analysts recently commented on VEEV shares. Truist Financial reaffirmed a “buy” rating and issued a $262.00 price target (down from $275.00) on shares of Veeva Systems in a report on Thursday, March 5th. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $285.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Piper Sandler cut their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Barclays cut their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $250.96.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm’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 owned 3,253 shares of the company’s stock, valued at $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

About Veeva Systems

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.