7,631 Shares in Veeva Systems Inc. $VEEV Purchased by Rare Wolf Capital LLC

Rare Wolf Capital LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, Holdings Channel reports. The firm acquired 7,631 shares of the technology company’s stock, valued at approximately $1,703,000. Veeva Systems makes up approximately 1.1% of Rare Wolf Capital LLC’s investment portfolio, making the stock its 22nd largest holding.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Veeva Systems during the fourth quarter worth approximately $332,412,000. Durable Capital Partners LP purchased a new stake in shares of Veeva Systems in the second quarter valued at approximately $281,351,000. AQR Capital Management LLC boosted its holdings in shares of Veeva Systems by 31.2% in the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock valued at $706,078,000 after purchasing an additional 574,164 shares during the period. Greenoaks Capital Partners LLC grew its stake in Veeva Systems by 198.2% in the fourth quarter. Greenoaks Capital Partners LLC now owns 694,926 shares of the technology company’s stock worth $155,128,000 after purchasing an additional 461,908 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Veeva Systems by 10,109.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 356,920 shares of the technology company’s stock worth $79,675,000 after purchasing an additional 353,424 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the 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 in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VEEV. Citigroup lifted their target price on Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Wells Fargo & Company increased their price target on Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and set a $275.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Barclays decreased their price objective on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Finally, UBS Group lowered their price objective on shares of Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $250.96.

Veeva Systems Stock Down 1.1%

Shares of Veeva Systems stock opened at $153.20 on Friday. The company has a market cap of $24.89 billion, a P/E ratio of 27.31, a PEG ratio of 0.67 and a beta of 0.95. The firm’s 50 day moving average price is $163.82 and its 200-day moving average price is $189.48. 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 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 28.37% and a return on equity of 13.72%. Veeva Systems’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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, equities research analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Veeva Systems 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.