Veeva Systems Inc. $VEEV Shares Sold by Oak Associates Ltd. OH

Oak Associates Ltd. OH decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 24.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,921 shares of the technology company’s stock after selling 3,441 shares during the quarter. Oak Associates Ltd. OH’s holdings in Veeva Systems were worth $1,918,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VEEV. Sivia Capital Partners LLC raised its holdings in Veeva Systems by 225.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after acquiring an additional 2,164 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Veeva Systems by 44.5% in the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after purchasing an additional 1,806 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Veeva Systems by 34.6% in the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock valued at $2,543,000 after purchasing an additional 2,272 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Veeva Systems by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock valued at $19,856,000 after purchasing an additional 1,452 shares during the last quarter. Finally, Diversify Wealth Management LLC lifted its position in Veeva Systems by 5.3% during the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock worth $3,140,000 after buying an additional 575 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 2.8%

VEEV stock opened at $179.36 on Friday. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The stock has a market cap of $29.14 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 0.79 and a beta of 0.94. The business has a fifty day moving average of $174.05 and a two-hundred day moving average of $181.57.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to analysts’ expectations 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 was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.97 EPS. 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. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current year.

Insider Buying and Selling

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $275.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Stifel Nicolaus reduced their price target on Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, June 4th. Canaccord Genuity Group lowered their price target on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. UBS Group lowered their price target on shares of Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, 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 report on Thursday, June 4th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $247.08.

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.