Fulcrum Asset Management LLP Acquires 12,891 Shares of Veeva Systems Inc. $VEEV

Fulcrum Asset Management LLP raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 6,820.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,080 shares of the technology company’s stock after acquiring an additional 12,891 shares during the period. Fulcrum Asset Management LLP’s holdings in Veeva Systems were worth $3,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Fundsmith LLP acquired a new stake in shares of Veeva Systems during the second quarter worth about $144,955,000. Arrowstreet Capital Limited Partnership grew its position in shares of Veeva Systems by 203.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after purchasing an additional 611,868 shares during the period. Pacer Advisors Inc. grew its position in shares of Veeva Systems by 757.5% in the 1st quarter. Pacer Advisors Inc. now owns 485,046 shares of the technology company’s stock valued at $85,203,000 after purchasing an additional 428,478 shares during the period. Ashe Capital Management LP bought a new stake in Veeva Systems during the 2nd quarter worth approximately $75,232,550. Finally, Principal Financial Group Inc. increased its stake in Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the sale, the director directly owned 3,242 shares of the company’s stock, valued at $846,291.68. The trade was a 18.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the sale, the insider directly owned 19,449 shares in the company, valued at $4,866,723.27. This trade represents a 64.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 56,789 shares of company stock worth $14,913,889. Company insiders own 10.60% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the topic of several research analyst reports. Citigroup raised their target price on shares of Veeva Systems from $190.00 to $273.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. Mizuho set a $345.00 price target on shares of Veeva Systems in a report on Thursday, October 29th. Barclays increased their price objective on shares of Veeva Systems from $360.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Wells Fargo & Company reissued an “overweight” rating and set a $330.00 price objective (up from $320.00) on shares of Veeva Systems in a research report on Tuesday, September 8th. Finally, Piper Sandler raised their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.50.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $306.50 on Tuesday. The firm has a market cap of $49.63 billion, a PE ratio of 50.18, a P/E/G ratio of 1.33 and a beta of 0.89. The business’s 50 day simple moving average is $289.83 and its 200 day simple moving average is $212.38. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $325.99.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.99 EPS. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. As a group, equities research analysts predict that Veeva Systems Inc. will post 6.70 EPS for the current year.

More Veeva Systems News

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Several analysts raised their targets. Truist lifted its target to $360 from $305 and maintained a buy rating; BTIG raised its target to $360 from $340. Another report cited a $375 target, while Needham was also reported as expecting shares to rise. The higher targets signal improved potential upside in analysts’ views. Truist price-target report BTIG price-target report Report on $375 target Needham analyst report
• Neutral Sentiment: Canaccord raised its target but kept a hold rating. The firm increased its price target to $315 from $260, a more cautious stance than the bullish revisions and a target relatively close to the cited share price. Canaccord price-target report
• Neutral Sentiment: Veeva is retesting a technical buy point. IBD named the stock its “Stock of the Day” and noted it is pressing against resistance at its 21-day moving average, which could limit near-term momentum. The coverage also references a $6 billion view. IBD article on Veeva

About Veeva Systems

Veeva Systems Inc develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations.

The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.

Founded in 2007 and headquartered in Pleasanton, California, Veeva serves life sciences companies in markets around the world.