Bangor Savings Bank Purchases Shares of 5,051 Veeva Systems Inc. $VEEV

Bangor Savings Bank purchased a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,051 shares of the technology company's stock, valued at approximately $896,000.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Veeva Systems by 7.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company's stock worth $727,513,000 after acquiring an additional 271,252 shares in the last quarter. State Street Corp boosted its position in shares of Veeva Systems by 2.4% in the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company's stock worth $801,267,000 after purchasing an additional 85,695 shares during the period. Geode Capital Management LLC boosted its position in shares of Veeva Systems by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company's stock worth $706,442,000 after purchasing an additional 23,117 shares during the period. AQR Capital Management LLC increased its stake in shares of Veeva Systems by 31.2% in the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock worth $706,078,000 after purchasing an additional 574,164 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Veeva Systems by 12.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company's stock worth $385,761,000 after purchasing an additional 189,093 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Evercore restated an "outperform" rating and set a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Raymond James Financial reiterated an "outperform" rating and issued a $225.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Barclays decreased their price target on Veeva Systems from $250.00 to $235.00 and set an "overweight" rating on the stock in a report on Thursday, June 4th. Zacks Research lowered Veeva Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Veeva Systems in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $247.08.

Veeva Systems Trading Up 1.1%

Shares of Veeva Systems stock opened at $206.11 on Tuesday. The firm has a market cap of $33.48 billion, a PE ratio of 36.74, a PEG ratio of 0.88 and a beta of 0.94. The stock has a 50 day moving average of $179.48 and a 200 day moving average of $179.88. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50.

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

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

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