Aurora Investment Counsel Takes $1.96 Million Position in Veeva Systems Inc. $VEEV

Key Points

• Aurora Investment Counsel initiated a new position in Veeva Systems during Q1, buying 11,181 shares worth about $1.96 million.
• Veeva also saw mixed insider and institutional activity: insiders own 10.6% of the stock, and director Priscilla Hung sold 750 shares in a pre-arranged transaction.
• Analysts remain generally constructive, with an average “Moderate Buy” rating and a consensus price target of $247.74, while the company recently beat quarterly EPS and revenue estimates.

Aurora Investment Counsel acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,181 shares of the technology company's stock, valued at approximately $1,964,000.

Several other institutional investors have also bought and sold shares of VEEV. SHP Wealth Management bought a new position in Veeva Systems in the 4th quarter valued at about $26,000. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems during the 4th quarter worth about $27,000. Newbridge Financial Services Group Inc. raised its position in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock worth $29,000 after buying an additional 100 shares in the last quarter. Activest Wealth Management lifted its stake in shares of Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after acquiring an additional 127 shares during the period. Finally, MV Capital Management Inc. acquired a new stake in shares of Veeva Systems in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction 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 in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VEEV. Wells Fargo & Company raised their price objective on shares of Veeva Systems from $317.00 to $320.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Citigroup upped their target price on Veeva Systems from $176.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. Stifel Nicolaus decreased their price target on Veeva Systems from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, June 4th. 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. Finally, UBS Group dropped their price objective on Veeva Systems from $220.00 to $190.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average price target of $247.74.

Veeva Systems Price Performance

• Veeva Systems NYSE: VEEV Stock a Buy: Cloud Software for Life Sciences

VEEV stock opened at $195.62 on Friday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The firm has a market cap of $31.78 billion, a PE ratio of 34.87, a P/E/G ratio of 0.84 and a beta of 0.94. The firm has a 50 day simple moving average of $171.66 and a 200 day simple moving average of $182.85.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business 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, sell-side analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current 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.

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.