Veeva Systems Inc. $VEEV Shares Acquired by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC increased its Veeva Systems stake by 10.3% in the fourth quarter, buying 15,244 more shares and bringing its total to 162,711 shares valued at about $36.3 million.
• Veeva Systems recently reported strong quarterly results, with EPS of $2.24 topping estimates and revenue of $882.95 million also beating expectations; revenue rose 16.3% year over year.
• Analyst sentiment remains constructive overall, with 18 Buy ratings versus eight Holds and one Sell, though several firms trimmed price targets and the consensus target is $250.96.

Corient Private Wealth LLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,711 shares of the technology company's stock after buying an additional 15,244 shares during the period. Corient Private Wealth LLC owned about 0.10% of Veeva Systems worth $36,339,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in VEEV. Personal CFO Solutions LLC raised its position in Veeva Systems by 3.5% during the third 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. Williams Jones Wealth Management LLC. raised its position in shares of 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 purchasing an additional 40 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Veeva Systems by 0.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock worth $1,982,000 after purchasing an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Veeva Systems by 8.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock valued at $214,000 after buying an additional 54 shares in the last quarter. Finally, Northwest Wealth Management LLC lifted its stake in Veeva Systems by 6.1% in the 4th quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company's stock valued at $213,000 after buying an additional 55 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Priscilla Hung sold 750 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares of the company's stock, valued at $506,296.92. This represents 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 company insiders.

Veeva Systems Stock Down 0.1%

Shares of Veeva Systems stock opened at $153.20 on Monday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The business's fifty day moving average is $163.55 and its two-hundred day moving average is $188.87. The firm has a market cap of $24.89 billion, a PE ratio of 27.31, a P/E/G ratio of 0.66 and a beta of 0.95.

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

Analyst Ratings Changes

VEEV has been the topic of a number of analyst reports. BTIG Research reiterated a "buy" rating and set a $340.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. BNP Paribas Exane reissued an "outperform" rating and issued a $285.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Canaccord Genuity Group reduced 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. Mizuho decreased their price objective on Veeva Systems from $295.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. Finally, Piper Sandler dropped their price objective on Veeva Systems from $285.00 to $235.00 and set an "overweight" rating for the company in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and an average price target of $250.96.

About Veeva Systems

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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