Perryman Financial Advisory Inc. AD Acquires New Stake in Veeva Systems Inc. $VEEV

Key Points

• Perryman Financial Advisory disclosed a new fourth-quarter stake in Veeva Systems, buying 10,461 shares valued at about $2.34 million.
• Veeva Systems recently beat earnings and revenue expectations for its latest quarter, reporting $2.24 EPS on $882.95 million in revenue, with revenue up 16.3% year over year.
• Analysts remain broadly positive despite some target cuts: the stock has a Moderate Buy consensus, with 18 Buy ratings, eight Holds, and one Sell, and a consensus price target of $250.96.

Perryman Financial Advisory Inc. AD acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,461 shares of the technology company's stock, valued at approximately $2,335,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VEEV. Board of the Pension Protection Fund acquired a new position in shares of Veeva Systems in the 4th quarter worth approximately $27,000. Raiffeisen Bank International AG acquired a new position in shares of Veeva Systems in the 3rd quarter worth approximately $28,000. 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 lifted its position in shares of 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 purchasing an additional 127 shares during the period. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Veeva Systems in the 4th quarter worth approximately $33,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Veeva Systems from $330.00 to $296.00 and set an "overweight" rating on the stock in a research report on Friday, February 20th. Truist Financial restated a "buy" rating and issued a $262.00 price target (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. TD Cowen restated a "buy" rating on shares of Veeva Systems in a research report on Thursday, June 4th. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Piper Sandler dropped their price target on shares of Veeva Systems from $285.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $250.96.

Veeva Systems Stock Down 0.1%

NYSE:VEEV opened at $159.44 on Monday. The company has a fifty day moving average of $165.06 and a 200-day moving average of $191.80. The firm has a market capitalization of $25.90 billion, a P/E ratio of 28.42, a P/E/G ratio of 0.69 and a beta of 0.95. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. Veeva Systems's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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, analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 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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