Rare Wolf Capital LLC Invests $1.70 Million in Veeva Systems Inc. $VEEV

Rare Wolf Capital LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 7,631 shares of the technology company’s stock, valued at approximately $1,703,000. Veeva Systems accounts for about 1.1% of Rare Wolf Capital LLC’s portfolio, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Personal CFO Solutions LLC lifted its position in shares of Veeva Systems by 3.5% in the third quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company’s stock worth $346,000 after buying an additional 39 shares in the last quarter. Williams Jones Wealth Management LLC. grew its holdings 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 buying an additional 40 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Veeva Systems by 0.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock worth $1,982,000 after acquiring an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. increased 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 worth $214,000 after acquiring an additional 54 shares during the last quarter. Finally, Northwest Wealth Management LLC raised its holdings in shares of Veeva Systems by 6.1% during the 4th quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company’s stock worth $213,000 after acquiring an additional 55 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction that occurred 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 approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. The Goldman Sachs Group decreased their price target on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research note on Thursday, June 4th. Morgan Stanley increased their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Mizuho dropped their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Eighteen 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’s stock. According to data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $250.96.

Veeva Systems Price Performance

Veeva Systems stock opened at $153.20 on Friday. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The firm has a market capitalization of $24.89 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95. The company’s 50-day moving average is $163.82 and its 200 day moving average is $189.48.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. 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. Research analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal 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.