Rock Point Advisors LLC Invests $2.73 Million in Veeva Systems Inc. $VEEV

Key Points

• Rock Point Advisors opened a new position in Veeva Systems during the fourth quarter, buying 12,240 shares valued at about $2.73 million.
• Veeva reported better-than-expected quarterly results, with EPS of $2.06 versus $1.94 expected and revenue of $835.95 million, up 16% year over year.
• Despite some analyst target cuts, Wall Street still has a Moderate Buy consensus on VEEV, with a median price target of $278.70.

Rock Point Advisors LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,240 shares of the technology company's stock, valued at approximately $2,732,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Linden Thomas Advisory Services LLC grew its holdings in shares of Veeva Systems by 0.3% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company's stock worth $3,707,000 after acquiring an additional 35 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in shares of Veeva Systems by 3.5% in the 3rd quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company's stock worth $346,000 after acquiring an additional 39 shares during the last quarter. AFT Forsyth & Company Inc. grew its holdings in shares of Veeva Systems by 4.2% in the 3rd quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company's stock worth $293,000 after acquiring an additional 40 shares during the last quarter. Williams Jones Wealth Management LLC. grew its holdings in shares of Veeva Systems by 0.4% in 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 last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Veeva Systems by 0.7% in the 3rd quarter. CIBC Asset Management Inc now owns 6,821 shares of the technology company's stock worth $2,032,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Trading Up 0.1%

Shares of VEEV stock opened at $159.55 on Wednesday. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The company has a market capitalization of $26.06 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 0.71 and a beta of 0.92. The stock's fifty day simple moving average is $173.15 and its 200-day simple moving average is $211.07.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The business had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. During the same quarter in the previous year, the company posted $1.74 earnings per share. Veeva Systems's revenue for the quarter was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, sell-side analysts predict that Veeva Systems Inc. will post 6.41 EPS for the current year.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VEEV. Oppenheimer decreased their target price on Veeva Systems from $325.00 to $275.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Needham & Company LLC decreased their target price on Veeva Systems from $355.00 to $270.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. William Blair reiterated an "outperform" rating on shares of Veeva Systems in a report on Tuesday, March 10th. Canaccord Genuity Group lowered their price target on Veeva Systems from $280.00 to $235.00 and set a "hold" rating on the stock in a report on Thursday, March 5th. Finally, Stifel Nicolaus lifted their price target on Veeva Systems from $212.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $278.70.

Veeva Systems Company 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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