Cumberland Partners Ltd Buys 10,500 Shares of Veeva Systems Inc. $VEEV

Key Points

• Cumberland Partners Ltd increased its Veeva Systems stake by 67.7% in the fourth quarter, buying 10,500 more shares and bringing its total holding to 26,000 shares worth about $5.8 million.
• Institutional ownership in Veeva remains very high at 88.2%, and several large funds recently added or established positions in the company.
• Analysts remain broadly constructive on Veeva Systems, with a Moderate Buy consensus and an average price target of $276.52, even as several firms trimmed their targets recently.

Cumberland Partners Ltd lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 67.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,000 shares of the technology company's stock after acquiring an additional 10,500 shares during the period. Cumberland Partners Ltd's holdings in Veeva Systems were worth $5,804,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Alphinity Investment Management Pty Ltd acquired a new position in Veeva Systems during the third quarter worth $422,241,000. Durable Capital Partners LP acquired a new position in Veeva Systems during the second quarter worth $281,351,000. ABN AMRO Bank N.V. acquired a new position in Veeva Systems during the third quarter worth $246,625,000. AQR Capital Management LLC boosted its holdings in Veeva Systems by 31.2% during 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 during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Veeva Systems by 3.1% during the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company's stock worth $4,596,522,000 after purchasing an additional 457,806 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VEEV. Piper Sandler reduced their target price on shares of Veeva Systems from $355.00 to $285.00 and set an "overweight" rating for the company in a report on Thursday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Veeva Systems from $330.00 to $296.00 and set an "overweight" rating for the company in a report on Friday, February 20th. Morgan Stanley increased their target price on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Barclays reduced their target price on shares of Veeva Systems from $305.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Finally, Wells Fargo & Company cut their price target on shares of Veeva Systems from $333.00 to $317.00 and set an "overweight" rating for the company in a research note on Thursday, March 5th. Sixteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus target price of $276.52.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Thursday, April 30th. The shares were 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 of the company's stock, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.

Veeva Systems Price Performance

Shares of VEEV stock opened at $160.40 on Friday. The stock has a market cap of $26.20 billion, a P/E ratio of 29.65, a P/E/G ratio of 0.70 and a beta of 0.92. The company has a fifty day moving average price of $168.39 and a two-hundred day moving average price of $204.33. 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 quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. The firm had revenue of $835.95 million during the quarter, compared to analysts' expectations of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, equities research analysts anticipate that Veeva Systems Inc. will post 6.45 EPS for the current fiscal year.

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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