North Star Asset Management Inc. Raises Stock Holdings in Veeva Systems Inc. $VEEV

Key Points

• North Star Asset Management boosted its Veeva Systems stake by 12.3% in the fourth quarter, bringing its holdings to 132,808 shares valued at about $29.6 million.
• Veeva reported a strong quarter with EPS of $2.06 and revenue of $835.95 million, both ahead of estimates, while revenue rose 16% year over year.
• Sentiment on the stock remains mixed but generally positive: analysts still have a Moderate Buy consensus with an average price target of $276.52, even as some firms recently trimmed targets or downgraded ratings.

North Star Asset Management Inc. increased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,808 shares of the technology company's stock after acquiring an additional 14,535 shares during the period. Veeva Systems makes up about 1.2% of North Star Asset Management Inc.'s portfolio, making the stock its 26th biggest holding. North Star Asset Management Inc. owned about 0.08% of Veeva Systems worth $29,647,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. GPS Wealth Strategies Group LLC raised its stake in Veeva Systems by 196.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company's stock worth $25,000 after acquiring an additional 55 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in Veeva Systems in the 4th quarter worth $27,000. Raiffeisen Bank International AG purchased a new position in Veeva Systems in the 3rd quarter worth $28,000. Newbridge Financial Services Group Inc. raised its stake in 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 acquiring an additional 100 shares during the last quarter. Finally, Activest Wealth Management raised its stake in Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insiders Place Their Bets

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 transaction of $116,730.00. Following the sale, the director directly owned 3,253 shares of the company's stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $160.40 on Friday. The business's 50-day moving average is $168.39 and its two-hundred day moving average is $204.33. The company has a market capitalization of $26.20 billion, a P/E ratio of 29.65, a P/E/G ratio of 0.71 and a beta of 0.92. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week 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 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. The company had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Analysts forecast that Veeva Systems Inc. will post 6.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VEEV. Truist Financial restated a "buy" rating and issued a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Zacks Research lowered Veeva Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. William Blair restated an "outperform" rating on shares of Veeva Systems in a research note on Tuesday, March 10th. TD Cowen reduced their target price on Veeva Systems from $380.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Finally, Piper Sandler cut their price target on Veeva Systems from $355.00 to $285.00 and set an "overweight" rating on the stock in a research report 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $276.52.

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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