Veeva Systems Inc. $VEEV Shares Bought by Makena Capital Management LLC

Key Points

• Makena Capital Management LLC increased its Veeva Systems stake by 30.4% in the fourth quarter, buying 26,526 additional shares and bringing its total holdings to 113,799 shares worth about $25.4 million.
• Veeva Systems recently reported strong quarterly results, with EPS of $2.06 and revenue of $835.95 million, both above analyst expectations, while revenue rose 16% year over year.
• Analyst sentiment remains mixed but generally positive, with Veeva carrying a Moderate Buy consensus rating and an average price target of $278.70, even as some firms cut targets and one downgraded the stock to hold.

Makena Capital Management LLC grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 30.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 113,799 shares of the technology company's stock after acquiring an additional 26,526 shares during the quarter. Veeva Systems comprises approximately 3.0% of Makena Capital Management LLC's holdings, making the stock its 10th largest position. Makena Capital Management LLC owned approximately 0.07% of Veeva Systems worth $25,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC boosted its position in Veeva Systems by 0.3% during 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 period. Personal CFO Solutions LLC boosted its stake in Veeva Systems by 3.5% during the 3rd quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company's stock valued at $346,000 after purchasing an additional 39 shares in the last quarter. AFT Forsyth & Company Inc. boosted its stake in Veeva Systems by 4.2% during the 3rd quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company's stock valued at $293,000 after purchasing an additional 40 shares in the last quarter. Williams Jones Wealth Management LLC. boosted its stake 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 valued at $2,806,000 after purchasing an additional 40 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Veeva Systems by 0.7% during the 3rd quarter. CIBC Asset Management Inc now owns 6,821 shares of the technology company's stock valued at $2,032,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VEEV. William Blair reaffirmed an "outperform" rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Wall Street Zen lowered Veeva Systems from a "buy" rating to a "hold" rating in a research note on Sunday, March 22nd. TD Cowen decreased their price target on Veeva Systems from $380.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Barclays decreased their price target on Veeva Systems from $305.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, Morgan Stanley increased their price target on Veeva Systems from $205.00 to $215.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Veeva Systems has an average rating of "Moderate Buy" and an average target price of $278.70.

Veeva Systems Stock Down 1.2%

VEEV opened at $166.21 on Friday. The firm has a market cap of $27.15 billion, a PE ratio of 30.72, a P/E/G ratio of 0.75 and a beta of 0.92. The business has a fifty day simple moving average of $174.27 and a 200-day simple moving average of $213.74. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. The business had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The company's revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $1.74 EPS. 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, equities research analysts anticipate that Veeva Systems Inc. will post 6.41 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares of the company's stock, valued at $506,296.92. This trade 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. 10.30% of the stock is currently owned by corporate insiders.

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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