General American Investors Co. Inc. Buys 10,000 Shares of Veeva Systems Inc. $VEEV

Key Points

• General American Investors Co. Inc. increased its Veeva Systems stake by 20.8% in the first quarter, buying 10,000 additional shares and bringing its total holding to 58,006 shares worth about $10.19 million.
• Veeva Systems reported better-than-expected quarterly results, with EPS of $2.24 versus estimates of $2.14 and revenue of $882.95 million versus $857.73 million, while revenue rose 16.3% year over year.
• Analysts remain mixed but generally positive on the stock: the consensus rating is Moderate Buy, with an average price target of $250.96, though some firms recently trimmed targets.

General American Investors Co. Inc. boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 20.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,006 shares of the technology company's stock after buying an additional 10,000 shares during the quarter. General American Investors Co. Inc.'s holdings in Veeva Systems were worth $10,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. SHP Wealth Management purchased a new position in Veeva Systems during the 4th quarter valued at $26,000. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems during the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. boosted its stake 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 valued at $29,000 after purchasing an additional 100 shares during the period. Activest Wealth Management grew its holdings in shares of Veeva Systems by 3,175.0% in 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. bought a new position in shares of Veeva Systems in the fourth quarter worth about $30,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Price Performance

Veeva Systems stock traded up $0.57 during trading hours on Friday, reaching $190.27. The stock had a trading volume of 1,266,905 shares, compared to its average volume of 2,411,717. The company has a market cap of $30.91 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 0.82 and a beta of 0.94. The business's 50 day moving average price is $168.68 and its 200-day moving average price is $183.83. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued 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 firm had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. On average, sell-side analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the company's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company's stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of Veeva Systems from $220.00 to $175.00 and set a "market perform" rating for the company in a research report on Thursday, June 4th. Citigroup boosted their price target on Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating 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 research note on Thursday, June 4th. BTIG Research reissued a "buy" rating and set a $340.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Barclays reduced their price objective on shares of Veeva Systems from $250.00 to $235.00 and set an "overweight" rating for the company in a research note on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of "Moderate Buy" and an average price target of $250.96.

Veeva Systems 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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