California State Teachers Retirement System Sells 4,969 Shares of Veeva Systems Inc. $VEEV

Key Points

• California State Teachers Retirement System reduced its Veeva Systems position by 2.1%, selling 4,969 shares in the first quarter while retaining 235,994 shares valued at approximately $41.5 million.
• Veeva reported quarterly revenue of $882.95 million and adjusted earnings of $2.24 per share, surpassing analyst estimates; revenue increased 16.3% year over year.
• Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $247.08, compared with the stock’s reported price of $204.09.

California State Teachers Retirement System cut its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,994 shares of the technology company's stock after selling 4,969 shares during the period. California State Teachers Retirement System owned about 0.14% of Veeva Systems worth $41,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SHP Wealth Management purchased a new stake in Veeva Systems in the 4th quarter worth about $26,000. Newbridge Financial Services Group Inc. lifted its holdings in Veeva Systems by 322.6% during 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 during the last quarter. Activest Wealth Management boosted its position in 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 period. MV Capital Management Inc. purchased a new position in shares of Veeva Systems in the fourth quarter worth about $30,000. Finally, Reflection Asset Management bought a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $32,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

VEEV opened at $204.09 on Friday. The business has a 50 day simple moving average of $178.56 and a two-hundred day simple moving average of $180.41. The firm has a market capitalization of $33.15 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 0.87 and a beta of 0.94. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50.

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 (EPS) 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 firm had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the prior year, the company earned $1.97 EPS. The business'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. As a group, sell-side analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $275.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Weiss Ratings raised Veeva Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, July 10th. UBS Group cut their target price on Veeva Systems from $220.00 to $190.00 and set a "neutral" rating for the company in a research note on Thursday, June 4th. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Sunday, July 26th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Veeva Systems in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and an average target price of $247.08.

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

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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