Element Capital Management LLC Invests $1.02 Million in Veeva Systems Inc. $VEEV

Element Capital Management LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,566 shares of the technology company’s stock, valued at approximately $1,019,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Board of the Pension Protection Fund purchased a new stake in Veeva Systems during the fourth quarter valued at about $27,000. Raiffeisen Bank International AG purchased a new position in shares of Veeva Systems in the third quarter worth approximately $28,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 100 shares during the period. Activest Wealth Management lifted its position in shares of Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV stock opened at $154.48 on Thursday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The stock’s 50-day moving average is $164.20 and its two-hundred day moving average is $190.10. The firm has a market cap of $25.09 billion, a P/E ratio of 27.54, a PEG ratio of 0.70 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.97 EPS. 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, research analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on VEEV shares. Barclays dropped their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. BMO Capital Markets lowered their target price on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating on the stock in a research note on Thursday, June 4th. BTIG Research reiterated a “buy” rating and issued a $340.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. BNP Paribas Exane reissued an “outperform” rating and issued a $285.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $250.96.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company 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.