Vulcan Value Partners LLC Makes New $3.77 Million Investment in Veeva Systems Inc. $VEEV

Key Points

• Vulcan Value Partners initiated a $3.77 million position in Veeva Systems, purchasing 21,240 shares during the second 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 $284.88; several firms recently raised their targets to between $295 and $330.
• Veeva’s latest quarterly results exceeded expectations, with adjusted EPS of $2.35 and revenue of $927.96 million, up 17.6% year over year. Shares were trading at $265.11 after falling 3.6%.

Vulcan Value Partners LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 21,240 shares of the technology company's stock, valued at approximately $3,769,000.

Other institutional investors also recently bought and sold shares of the company. SHP Wealth Management bought a new stake in Veeva Systems during the fourth quarter valued at about $26,000. Compass Financial Management LLC bought a new position in shares of Veeva Systems during the 2nd quarter valued at approximately $27,000. Arlington Trust Co LLC bought a new position in shares of Veeva Systems during the 2nd quarter valued at approximately $29,000. Field & Main Bank bought a new stake in Veeva Systems during the 2nd quarter worth approximately $29,000. Finally, MV Capital Management Inc. bought a new stake in Veeva Systems during the 4th quarter worth approximately $30,000. 88.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas Schwenger sold 36,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the sale, the insider owned 19,449 shares of the company's stock, valued at $4,866,723.27. The trade was a 64.92% decrease in their position. The transaction was disclosed in a legal filing 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 corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on VEEV shares. Jefferies Financial Group restated a "buy" rating and set a $295.00 price objective on shares of Veeva Systems in a research report on Thursday, August 27th. Truist Financial upped their target price on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Wells Fargo & Company reiterated an "overweight" rating and issued a $330.00 price target on shares of Veeva Systems in a research note on Tuesday. Barclays boosted their price objective on Veeva Systems from $275.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, August 27th. Finally, Weiss Ratings raised Veeva Systems from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $284.88.

Veeva Systems Trading Down 3.6%

VEEV traded down $9.98 during trading on Tuesday, hitting $265.11. 1,467,550 shares of the company traded hands, compared to its average volume of 2,455,549. The company has a market cap of $42.92 billion, a PE ratio of 43.60, a P/E/G ratio of 1.17 and a beta of 0.97. The stock's 50-day simple moving average is $224.19 and its two-hundred day simple moving average is $189.32. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $905.38 million. During the same quarter in the previous year, the company earned $1.99 EPS. The business's quarterly revenue was up 17.6% compared to the same quarter last year. 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. Equities analysts expect that Veeva Systems Inc. will post 6.7 EPS for the current year.

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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