UNIVEST FINANCIAL Corp Has $527,000 Position in Veeva Systems Inc. $VEEV

UNIVEST FINANCIAL Corp decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 70.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the technology company’s stock after selling 7,188 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Veeva Systems were worth $527,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. General American Investors Co. Inc. increased its position in Veeva Systems by 20.8% in the 1st quarter. General American Investors Co. Inc. now owns 58,006 shares of the technology company’s stock valued at $10,189,000 after acquiring an additional 10,000 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Veeva Systems by 28.2% during the first quarter. Citizens Financial Group Inc. RI now owns 4,453 shares of the technology company’s stock worth $782,000 after purchasing an additional 979 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Veeva Systems by 18.1% during the first quarter. Fifth Third Bancorp now owns 9,926 shares of the technology company’s stock valued at $1,744,000 after purchasing an additional 1,522 shares during the last quarter. Torray Investment Partners LLC increased its holdings in shares of Veeva Systems by 12.4% in the first quarter. Torray Investment Partners LLC now owns 23,758 shares of the technology company’s stock valued at $4,173,000 after purchasing an additional 2,626 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of Veeva Systems by 3.3% in the first quarter. Candriam S.C.A. now owns 257,459 shares of the technology company’s stock valued at $45,225,000 after purchasing an additional 8,109 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction 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 sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the topic of several research reports. Canaccord Genuity Group reduced their price objective on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Mizuho lowered their target price on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. 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. Raymond James Financial reiterated an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Wells Fargo & Company lifted their price objective on Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

Veeva Systems Trading Up 0.1%

Veeva Systems stock opened at $190.27 on Monday. The firm has a market capitalization of $30.91 billion, a P/E ratio of 33.92, a PEG ratio of 0.82 and a beta of 0.94. The business has a 50-day moving average of $168.68 and a 200-day moving average of $183.56. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same quarter last year, the firm earned $1.97 EPS. Veeva Systems’s quarterly revenue was up 16.3% compared to the same quarter last year. 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 EPS 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.