Legacy Capital Group California Inc. Acquires Shares of 4,157 Veeva Systems Inc. $VEEV

Legacy Capital Group California Inc. purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,157 shares of the technology company’s stock, valued at approximately $730,000.

Several other large investors have also added to or reduced their stakes in the stock. SHP Wealth Management bought a new position in Veeva Systems in the 4th quarter worth $26,000. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems during the 4th quarter valued at about $27,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. Activest Wealth Management increased its position in shares of Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 127 shares during the period. Finally, MV Capital Management Inc. purchased a new position in shares of Veeva Systems during the fourth quarter valued at about $30,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 3.7%

Shares of VEEV opened at $197.16 on Tuesday. The stock has a market cap of $32.03 billion, a P/E ratio of 35.15, a P/E/G ratio of 0.82 and a beta of 0.94. The business’s 50 day moving average price is $169.51 and its 200-day moving average price is $183.36. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. During the same quarter in the previous year, the business earned $1.97 earnings per share. The firm’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. On average, equities analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analysts Set New Price Targets

VEEV has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Piper Sandler reduced their target price on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Zacks Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. The Goldman Sachs Group lowered their target price on Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $275.00 price target 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.74.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated 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 owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

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.