Radnor Capital Management LLC Buys New Shares in Veeva Systems Inc. $VEEV

Key Points

• Radnor Capital Management initiated a Veeva Systems position by purchasing 8,970 shares worth approximately $2.56 million in the third quarter. Institutional investors collectively own 88.2% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $287.79; Barclays raised its target to $360.
• Veeva reported quarterly revenue of $927.96 million, up 17.6% year over year, and adjusted earnings of $2.35 per share, surpassing analyst expectations.

Radnor Capital Management LLC bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,970 shares of the technology company's stock, valued at approximately $2,560,000.

Other large investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. increased its holdings in shares of Veeva Systems by 181.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company's stock valued at $27,000 after buying an additional 60 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at $27,000. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at $38,000. Lodestone Wealth Management LLC lifted its position in shares of Veeva Systems by 68.3% during the 3rd quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company's stock valued at $39,000 after acquiring an additional 56 shares during the last quarter. Finally, Compass Financial Management LLC bought a new stake in shares of Veeva Systems during the 2nd quarter worth $27,000. 88.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Thomas Schwenger sold 10,000 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $281.33, for a total value of $2,813,300.00. Following the completion of the sale, the insider owned 19,449 shares of the company's stock, valued at $5,471,587.17. This trade represents a 33.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the sale, the director directly owned 3,242 shares of the company's stock, valued at approximately $846,291.68. This trade represents a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 56,789 shares of company stock worth $14,913,889 over the last three months. Company insiders own 10.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on VEEV shares. Jefferies Financial Group restated a "buy" rating and issued a $295.00 target price on shares of Veeva Systems in a report on Thursday, August 27th. Truist Financial upped their target price on Veeva Systems from $262.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Oppenheimer reaffirmed an "outperform" rating and set a $325.00 target price on shares of Veeva Systems in a report on Thursday, October 15th. Barclays increased their price target on Veeva Systems from $315.00 to $360.00 and gave the company an "overweight" rating in a research report on Monday, October 19th. Finally, Stifel Nicolaus set a $300.00 price target on Veeva Systems in a research note on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $287.79.

Veeva Systems Price Performance

VEEV stock opened at $323.31 on Friday. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $325.99. The company's 50 day simple moving average is $277.66 and its 200-day simple moving average is $213.05. The firm has a market capitalization of $52.35 billion, a P/E ratio of 53.18, a P/E/G ratio of 1.38 and a beta of 0.93.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the prior year, the firm earned $1.99 EPS. The firm's quarterly revenue was up 17.6% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. Sell-side analysts predict that Veeva Systems Inc. will post 6.70 EPS for the current fiscal year.

Veeva Systems Profile

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva's applications to manage commercial, clinical, regulatory, quality and operational processes.

The company's Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.

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