Public Employees Retirement System of Ohio Buys 5,500 Shares of Veeva Systems Inc. $VEEV

Key Points

• Public Employees Retirement System of Ohio increased its Veeva Systems position by 8.3%, buying 5,500 shares to hold 71,412 shares valued at approximately $12.5 million. Institutional investors own 88.2% of the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $247.08, although some firms recently lowered their targets.
• Veeva exceeded quarterly expectations, reporting $2.24 in EPS on $882.95 million in revenue, with revenue up 16.3% year over year. A director separately sold 750 shares under a pre-arranged Rule 10b5-1 plan.

Public Employees Retirement System of Ohio lifted its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,412 shares of the technology company's stock after buying an additional 5,500 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Veeva Systems were worth $12,544,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VEEV. Williams Jones Wealth Management LLC. increased its holdings in Veeva Systems by 0.4% during the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock worth $2,806,000 after acquiring an additional 40 shares during the period. Personal CFO Solutions LLC boosted its holdings in Veeva Systems by 4.3% in the 4th quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company's stock valued at $271,000 after purchasing an additional 50 shares during the period. Rafferty Asset Management LLC boosted its holdings in Veeva Systems by 0.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock valued at $1,982,000 after purchasing an additional 51 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Veeva Systems by 8.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock valued at $214,000 after purchasing an additional 54 shares in the last quarter. Finally, Northwest Wealth Management LLC grew its position in shares of Veeva Systems by 6.1% during the 4th quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company's stock valued at $213,000 after purchasing an additional 55 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Key Veeva Systems News

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Guggenheim upgraded Veeva Systems to strong-buy and later set a $232 price target, implying meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: Investor interest is being supported by articles highlighting Veeva as a cash-heavy stock with financial stability, which may appeal to defensive growth investors. Yahoo Finance
• Positive Sentiment: Recent commentary points to steady execution and attractive P/E multiples, reinforcing the view that Veeva’s fundamentals remain solid ahead of its next earnings report. Seeking Alpha
• Neutral Sentiment: Several recent articles focus on what to expect from Veeva’s next earnings release and broader analyst sentiment, suggesting the stock may remain sensitive to upcoming guidance and results. MSN
• Negative Sentiment: The stock had recently declined more than the broader market, reminding investors that near-term volatility remains a risk despite the positive analyst coverage. Yahoo Finance

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were 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 in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group lowered their price objective on Veeva Systems from $235.00 to $220.00 and set a "hold" rating on the stock in a research report on Thursday, June 4th. Guggenheim initiated coverage on Veeva Systems in a research report on Thursday. They set a "buy" rating and a $232.00 target price for the company. Barclays lowered their price target on Veeva Systems from $250.00 to $235.00 and set an "overweight" rating on the stock in a report on Thursday, June 4th. Citigroup lifted their price target on Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $247.08.

• Veeva Systems NYSE: VEEV Stock a Buy: Cloud Software for Life Sciences

Veeva Systems Stock Down 0.1%

VEEV opened at $186.06 on Monday. The business's fifty day simple moving average is $174.59 and its 200 day simple moving average is $181.32. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The stock has a market cap of $30.22 billion, a PE ratio of 33.17, a P/E/G ratio of 0.80 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 the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 earnings per share. 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. As a group, equities analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

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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