Element Capital Management LLC Acquires Shares of 4,566 Veeva Systems Inc. $VEEV

Element Capital Management LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,566 shares of the technology company’s stock, valued at approximately $1,019,000.

Several other institutional investors and hedge funds have also made changes to their positions in VEEV. Robeco Institutional Asset Management B.V. lifted its holdings in Veeva Systems by 11.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock worth $199,137,000 after acquiring an additional 90,703 shares during the last quarter. Elo Mutual Pension Insurance Co grew its holdings in shares of Veeva Systems by 50.2% during the third quarter. Elo Mutual Pension Insurance Co now owns 26,541 shares of the technology company’s stock valued at $7,907,000 after purchasing an additional 8,869 shares during the last quarter. Empire Life Investments Inc. raised its position in shares of Veeva Systems by 21.1% during the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock worth $8,272,000 after purchasing an additional 6,453 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Veeva Systems by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock worth $1,770,071,000 after purchasing an additional 235,983 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Veeva Systems by 217.2% in the 4th quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock worth $2,337,000 after purchasing an additional 7,169 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VEEV. William Blair restated an “outperform” rating on shares of Veeva Systems in a research note on Tuesday, March 10th. BNP Paribas Exane reiterated an “outperform” rating and issued a $285.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Canaccord Genuity Group reduced their price target on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Mizuho dropped their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $250.96.

Insider Buying and Selling

In other news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Veeva Systems Price Performance

VEEV opened at $154.48 on Thursday. The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.95. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The business has a 50 day moving average price of $164.20 and a two-hundred day moving average price of $190.10.

Veeva Systems (NYSE:VEEV) last issued its quarterly 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. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. During the same period last year, the firm earned $1.97 EPS. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. 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. Equities analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Veeva Systems 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.