Evanson Financial LLC Takes Position in Veeva Systems Inc. $VEEV

Evanson Financial LLC purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,599 shares of the technology company’s stock, valued at approximately $461,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sivia Capital Partners LLC grew its holdings in shares of Veeva Systems by 225.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after purchasing an additional 2,164 shares during the last quarter. Bank of Nova Scotia boosted its position in 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 buying an additional 1,806 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Veeva Systems by 34.6% during the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after buying an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Veeva Systems by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock worth $19,856,000 after buying an additional 1,452 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in shares of 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.

Veeva Systems Price Performance

Shares of VEEV opened at $229.93 on Friday. The business has a 50-day moving average of $183.83 and a 200-day moving average of $180.11. The company has a market capitalization of $37.35 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million for 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 firm’s revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the business posted $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. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on VEEV. Evercore reiterated an “outperform” rating and issued a $185.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. BTIG Research reiterated a “buy” rating and issued a $340.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. BNP Paribas Exane reissued an “outperform” rating and set a $285.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, UBS Group cut their price target on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $247.08.

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.