Empowered Funds LLC Acquires 59,909 Shares of Veeva Systems Inc. $VEEV

Empowered Funds LLC lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1,604.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,642 shares of the technology company’s stock after purchasing an additional 59,909 shares during the quarter. Empowered Funds LLC’s holdings in Veeva Systems were worth $11,179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SHP Wealth Management bought a new position in Veeva Systems in the fourth quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. increased its position in shares of Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring 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 worth $29,000 after acquiring an additional 127 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of Veeva Systems during the fourth quarter worth $30,000. Finally, Reflection Asset Management acquired a new stake in shares of Veeva Systems during the fourth quarter worth $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $202.06 on Friday. The stock has a 50 day moving average price of $177.69 and a 200 day moving average price of $180.24. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The stock has a market capitalization of $32.82 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 0.89 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results 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 return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the previous year, the firm earned $1.97 EPS. The business’s quarterly revenue 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. As a group, research analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analysts Set New Price Targets

VEEV has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $340.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Wells Fargo & Company lifted their price target on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Piper Sandler cut their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Mizuho decreased their price objective on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

About Veeva Systems

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.