Aware Super Pty Ltd as trustee of Aware Super Invests $26.13 Million in Veeva Systems Inc. $VEEV

Key Points

• Aware Super disclosed a new first-quarter stake in Veeva Systems, buying 148,737 shares worth about $26.13 million, or 0.09% of the company.
• Veeva’s recent earnings topped expectations, with EPS of $2.24 versus the $2.14 consensus and revenue of $882.95 million, up 16.3% year over year.
• Wall Street remains generally positive on the stock: analysts rate VEEV Moderate Buy on average, with a consensus price target of $247.74.

Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 148,737 shares of the technology company's stock, valued at approximately $26,127,000. Aware Super Pty Ltd as trustee of Aware Super owned 0.09% of Veeva Systems as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities research analysts have commented on VEEV shares. Citigroup upped their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. UBS Group decreased their price objective on Veeva Systems from $220.00 to $190.00 and set a "neutral" rating for the company in a report on Thursday, June 4th. Royal Bank Of Canada reissued an "outperform" rating and issued a $275.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Evercore reaffirmed an "outperform" rating and set a $185.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Finally, BTIG Research reiterated a "buy" rating and set a $340.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $247.74.

Veeva Systems Trading Up 2.0%

Shares of VEEV opened at $197.63 on Friday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The stock's 50 day moving average is $171.07 and its two-hundred day moving average is $182.76. The firm has a market cap of $32.10 billion, a P/E ratio of 35.23, a PEG ratio of 0.83 and a beta of 0.94.

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

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its 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. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same period in the prior year, the company posted $1.97 EPS. The business'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. Equities research analysts forecast 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 the company's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company's stock.

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.

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