Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Boosts Stake in Veeva Systems Inc. $VEEV

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 665,439 shares of the technology company’s stock after acquiring an additional 22,837 shares during the period. Veeva Systems makes up about 1.3% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 25th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Veeva Systems were worth $144,979,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Alphinity Investment Management Pty Ltd acquired a new stake in Veeva Systems in the third quarter valued at approximately $422,241,000. Durable Capital Partners LP acquired a new position in shares of Veeva Systems during the 2nd quarter worth approximately $281,351,000. ABN AMRO Bank N.V. purchased a new position in shares of Veeva Systems during the 3rd quarter valued at approximately $246,625,000. AQR Capital Management LLC grew its stake in Veeva Systems by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock valued at $706,078,000 after acquiring an additional 574,164 shares during the period. Finally, Vanguard Group Inc. grew its stake in Veeva Systems by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after acquiring an additional 457,806 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $153.50, for a total value of $115,125.00. Following the sale, the director directly owned 4,003 shares in the company, valued at approximately $614,460.50. This trade represents a 15.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $163.46 on Thursday. The stock has a 50-day simple moving average of $176.91 and a 200-day simple moving average of $222.56. The stock has a market capitalization of $26.70 billion, a PE ratio of 30.21, a PEG ratio of 1.10 and a beta of 1.10. 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 earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Analysts predict that Veeva Systems Inc. will post 6.41 EPS for the current year.

Veeva Systems announced that its board has authorized a share buyback plan on Monday, January 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VEEV shares. Citigroup downgraded Veeva Systems from a “buy” rating to a “neutral” rating and cut their target price for the stock from $291.00 to $176.00 in a research note on Friday, April 10th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. Oppenheimer cut their price objective on shares of Veeva Systems from $325.00 to $275.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. UBS Group lifted their target price on shares of Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Zacks Research raised shares of Veeva Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $278.70.

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.