Vulcan Value Partners LLC Invests $3.77 Million in Veeva Systems Inc. $VEEV

Vulcan Value Partners LLC purchased a new position in Veeva Systems Inc. (NYSE:VEEV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,240 shares of the technology company’s stock, valued at approximately $3,769,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Williams Jones Wealth Management LLC. boosted its stake in shares of Veeva Systems by 0.4% during the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock worth $2,806,000 after purchasing an additional 40 shares during the period. Rafferty Asset Management LLC raised its position in Veeva Systems by 0.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock worth $1,982,000 after purchasing an additional 51 shares during the period. Brown Brothers Harriman & Co. lifted its stake in Veeva Systems by 8.1% in the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock worth $214,000 after purchasing an additional 54 shares during the last quarter. Main Management ETF Advisors LLC boosted its position in shares of Veeva Systems by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company’s stock valued at $1,224,000 after buying an additional 56 shares during the period. Finally, Root Financial Partners LLC boosted its position in shares of Veeva Systems by 17.1% during the fourth quarter. Root Financial Partners LLC now owns 383 shares of the technology company’s stock valued at $85,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VEEV. Royal Bank Of Canada increased their price target on Veeva Systems from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Mizuho upped their price objective on Veeva Systems from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Barclays lifted their target price on Veeva Systems from $275.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Wells Fargo & Company restated an “overweight” rating and issued a $330.00 price target on shares of Veeva Systems in a report on Tuesday. Finally, TD Cowen lifted their price objective on shares of Veeva Systems from $235.00 to $283.00 and gave the company a “buy” rating in a report on Monday, August 24th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $284.88.

Insider Activity

In other news, insider Thomas Schwenger sold 36,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the completion of the transaction, the insider directly owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. The trade was a 64.92% decrease in their position. 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. Corporate insiders own 10.60% of the company’s stock.

Veeva Systems Stock Performance

VEEV traded down $9.98 during trading on Tuesday, hitting $265.11. 1,467,550 shares of the stock were exchanged, compared to its average volume of 2,455,549. The firm has a 50 day simple moving average of $224.19 and a 200 day simple moving average of $189.32. The firm has a market cap of $42.92 billion, a price-to-earnings ratio of 43.60, a P/E/G ratio of 1.17 and a beta of 0.97. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.The business had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. During the same period in the prior year, the business earned $1.99 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. As a group, equities analysts anticipate that Veeva Systems Inc. will post 6.7 earnings per share for the current fiscal year.

About Veeva Systems

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.