Oak Associates Ltd. OH Lowers Stock Holdings in Veeva Systems Inc. $VEEV

Oak Associates Ltd. OH reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 24.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 10,921 shares of the technology company’s stock after selling 3,441 shares during the quarter. Oak Associates Ltd. OH’s holdings in Veeva Systems were worth $1,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. SHP Wealth Management acquired a new stake in shares of Veeva Systems during the fourth quarter worth about $26,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. Activest Wealth Management grew its holdings in shares of Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 127 shares in the last quarter. MV Capital Management Inc. purchased a new stake in Veeva Systems during the 4th quarter worth approximately $30,000. Finally, Reflection Asset Management purchased a new stake in Veeva Systems during the 4th quarter worth approximately $32,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of the business’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 of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

Veeva Systems Trading Down 2.8%

VEEV stock opened at $179.36 on Friday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The company’s 50 day moving average is $174.05 and its two-hundred day moving average is $181.57. The stock has a market cap of $29.14 billion, a P/E ratio of 31.97, a PEG ratio of 0.79 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data 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. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the previous year, the firm earned $1.97 EPS. The company’s revenue was up 16.3% compared to the same quarter last year. 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. On average, equities research analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VEEV. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. UBS Group cut their price objective on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Needham & Company LLC reissued a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Canaccord Genuity Group cut their price target on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $247.08.

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.