Gallagher Capital Advisors LLC Makes New $940,000 Investment in Veeva Systems Inc. $VEEV

Key Points

• Gallagher Capital Advisors disclosed a new first-quarter position in Veeva Systems, buying 5,350 shares worth about $940,000.
• Veeva Systems reported strong quarterly results, with EPS of $2.24 beating estimates and revenue of $882.95 million, up 16.3% year over year.
• Analysts remain broadly positive on the stock, with an average rating of “Moderate Buy” and a consensus price target of $247.74, though some firms recently trimmed targets or downgraded the shares.

Gallagher Capital Advisors LLC purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,350 shares of the technology company's stock, valued at approximately $940,000.

Other institutional investors have also recently made changes to their positions in the company. SHP Wealth Management purchased a new position in Veeva Systems during the 4th quarter valued at about $26,000. Board of the Pension Protection Fund purchased a new stake in shares of Veeva Systems in the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. lifted its position in shares of Veeva Systems by 322.6% in the 4th 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 period. Activest Wealth Management boosted its stake 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 valued at $29,000 after purchasing an additional 127 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of Veeva Systems during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Veeva Systems Stock Up 0.3%

Shares of VEEV opened at $193.71 on Thursday. The company has a 50 day moving average of $170.48 and a two-hundred day moving average of $182.95. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The company has a market cap of $31.47 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 0.83 and a beta of 0.94.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results 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. 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 for the quarter, compared to the consensus estimate of $857.73 million. During the same period in the prior year, the firm posted $1.97 earnings per share. 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. On average, sell-side analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Oppenheimer reissued an "outperform" rating and issued a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Barclays dropped their target price on Veeva Systems from $250.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday, June 4th. Weiss Ratings upgraded Veeva Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, July 10th. Raymond James Financial reissued an "outperform" rating and issued a $225.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Zacks Research cut Veeva Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Eighteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $247.74.

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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