Peregrine Capital Management LLC Sells 13,638 Shares of Veeva Systems Inc. $VEEV

Peregrine Capital Management LLC lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,318 shares of the technology company’s stock after selling 13,638 shares during the period. Veeva Systems makes up about 1.3% of Peregrine Capital Management LLC’s holdings, making the stock its 15th biggest holding. Peregrine Capital Management LLC owned 0.13% of Veeva Systems worth $36,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in VEEV. SJS Investment Consulting Inc. raised its position in shares of Veeva Systems by 29.7% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,388 shares of the technology company’s stock valued at $244,000 after buying an additional 318 shares in the last quarter. Inspire Investing LLC increased its stake in Veeva Systems by 7.2% in the first quarter. Inspire Investing LLC now owns 18,143 shares of the technology company’s stock valued at $3,187,000 after acquiring an additional 1,224 shares during the last quarter. Simmons Bank increased its stake in Veeva Systems by 13.1% in the first quarter. Simmons Bank now owns 15,022 shares of the technology company’s stock valued at $2,639,000 after acquiring an additional 1,743 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ raised its position in Veeva Systems by 57.4% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 75,916 shares of the technology company’s stock valued at $13,335,000 after purchasing an additional 27,678 shares in the last quarter. Finally, waypoint wealth counsel purchased a new stake in Veeva Systems during the first quarter valued at about $281,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.8%

Shares of NYSE:VEEV opened at $177.69 on Wednesday. The stock’s 50-day moving average price is $164.13 and its 200-day moving average price is $185.30. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The stock has a market capitalization of $28.86 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95.

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

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research reports. BMO Capital Markets cut their price objective on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. Mizuho reduced their price objective on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Weiss Ratings cut Veeva Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. Wells Fargo & Company boosted their target price on Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Finally, Robert W. Baird upped their target price on Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

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.