49,812 Shares of Veeva Systems Inc. $VEEV Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the third quarter, HoldingsChannel reports. The firm acquired 49,812 shares of the technology company’s stock, valued at approximately $14,219,000.

Other institutional investors have also recently made changes to their positions in the company. Compass Financial Management LLC purchased a new stake in shares of Veeva Systems in the second quarter worth about $27,000. Burkett Financial Services LLC bought a new position in Veeva Systems during the third quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. boosted its stake in Veeva Systems by 181.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock valued at $27,000 after buying an additional 60 shares during the last quarter. Arlington Trust Co LLC purchased a new position in Veeva Systems during the 2nd quarter valued at approximately $29,000. Finally, Field & Main Bank purchased a new position in Veeva Systems during the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on VEEV shares. Robert W. Baird upped their price objective on Veeva Systems from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, October 26th. Jefferies Financial Group reissued a “buy” rating and issued a $295.00 target price on shares of Veeva Systems in a report on Thursday, August 27th. Truist Financial boosted their price target on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Wells Fargo & Company restated an “overweight” rating and issued a $330.00 price target on shares of Veeva Systems in a research report on Tuesday, September 8th. Finally, Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.21.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 5,198 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total transaction of $1,557,944.56. Following the transaction, the senior vice president owned 4,130 shares in the company, valued at $1,237,843.60. The trade was a 55.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the sale, the director directly owned 3,242 shares in the company, valued at approximately $846,291.68. This represents a 18.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 56,789 shares of company stock valued at $14,913,889 in the last three months. Corporate insiders own 10.60% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV stock opened at $303.66 on Wednesday. The company has a market cap of $49.17 billion, a PE ratio of 49.94, a price-to-earnings-growth ratio of 1.31 and a beta of 0.89. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $325.99. The stock’s 50 day simple moving average is $286.26 and its two-hundred day simple moving average is $210.61.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 EPS. 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 research analysts expect that Veeva Systems Inc. will post 6.70 EPS for the current year.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.