Bath Savings Trust Co Purchases 5,163 Shares of Veeva Systems Inc. $VEEV

Bath Savings Trust Co increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,049 shares of the technology company’s stock after purchasing an additional 5,163 shares during the period. Veeva Systems makes up about 1.0% of Bath Savings Trust Co’s portfolio, making the stock its 26th biggest holding. Bath Savings Trust Co’s holdings in Veeva Systems were worth $10,503,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Alphinity Investment Management Pty Ltd bought a new position in Veeva Systems during the 3rd quarter worth $422,241,000. Norges Bank bought a new position in Veeva Systems during the second quarter worth about $384,265,000. Durable Capital Partners LP acquired a new stake in Veeva Systems in the 2nd quarter worth about $281,351,000. AQR Capital Management LLC boosted its holdings in Veeva Systems by 111.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock valued at $526,508,000 after purchasing an additional 969,905 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in Veeva Systems by 1,039.4% in the 2nd quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock valued at $292,292,000 after purchasing an additional 925,896 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $179.20 on Wednesday. Veeva Systems Inc. has a 52-week low of $168.13 and a 52-week high of $310.50. The company has a market capitalization of $29.46 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 1.22 and a beta of 1.09. The company has a fifty day moving average of $192.81 and a 200-day moving average of $239.08.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.Veeva Systems’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, equities analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

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

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the sale, the insider directly owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VEEV. Truist Financial restated a “buy” rating and set a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Morgan Stanley boosted their price target on Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Weiss Ratings downgraded Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. lowered their price objective on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Finally, Wells Fargo & Company dropped their price objective on Veeva Systems from $333.00 to $317.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $283.70.

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.