UNIVEST FINANCIAL Corp Has $527,000 Holdings in Veeva Systems Inc. $VEEV

UNIVEST FINANCIAL Corp decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 70.6% in the 1st quarter, Holdings Channel reports. The fund owned 3,000 shares of the technology company’s stock after selling 7,188 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Veeva Systems were worth $527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VEEV. General American Investors Co. Inc. lifted its position in Veeva Systems by 20.8% in the 1st quarter. General American Investors Co. Inc. now owns 58,006 shares of the technology company’s stock valued at $10,189,000 after acquiring an additional 10,000 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Veeva Systems by 28.2% during the first quarter. Citizens Financial Group Inc. RI now owns 4,453 shares of the technology company’s stock worth $782,000 after buying an additional 979 shares during the period. Fifth Third Bancorp grew its holdings in shares of Veeva Systems by 18.1% during the first quarter. Fifth Third Bancorp now owns 9,926 shares of the technology company’s stock worth $1,744,000 after buying an additional 1,522 shares in the last quarter. Torray Investment Partners LLC grew its stake in shares of Veeva Systems by 12.4% during the 1st quarter. Torray Investment Partners LLC now owns 23,758 shares of the technology company’s stock worth $4,173,000 after acquiring an additional 2,626 shares in the last quarter. Finally, Candriam S.C.A. grew its stake in shares of Veeva Systems by 3.3% during the 1st quarter. Candriam S.C.A. now owns 257,459 shares of the technology company’s stock worth $45,225,000 after acquiring an additional 8,109 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were 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 in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 0.1%

Shares of VEEV stock opened at $190.27 on Monday. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The firm has a 50 day moving average price of $168.68 and a two-hundred day moving average price of $183.56. The company has a market capitalization of $30.91 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.10. The business 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 revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the firm posted $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.

Analysts Set New Price Targets

A number of brokerages have recently commented on VEEV. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Weiss Ratings downgraded shares of Veeva Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 25th. Robert W. Baird raised their price objective on Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Piper Sandler decreased their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Finally, Canaccord Genuity Group lowered their price target on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $250.96.

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.