Empire Life Investments Inc. Purchases 6,453 Shares of Veeva Systems Inc. $VEEV

Empire Life Investments Inc. lifted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 21.1% in the fourth quarter, HoldingsChannel reports. The fund owned 37,054 shares of the technology company’s stock after buying an additional 6,453 shares during the period. Empire Life Investments Inc.’s holdings in Veeva Systems were worth $8,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GPS Wealth Strategies Group LLC lifted its stake in shares of Veeva Systems by 196.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after acquiring an additional 55 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in Veeva Systems in the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund bought a new stake in Veeva Systems in the fourth quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. boosted its stake 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 valued at $29,000 after purchasing an additional 100 shares during the period. Finally, Activest Wealth Management boosted its stake 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 purchasing an additional 127 shares during the period. 88.20% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VEEV. Zacks Research raised shares of Veeva Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Morgan Stanley boosted their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Truist Financial reiterated a “buy” rating and set a $262.00 target price (down from $275.00) on shares of Veeva Systems in a report on Thursday, March 5th. JPMorgan Chase & Co. cut their target price 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, Citigroup downgraded Veeva Systems from a “buy” rating to a “neutral” rating and reduced their price target for the company from $291.00 to $176.00 in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $278.70.

Veeva Systems Trading Up 0.1%

Shares of VEEV opened at $159.55 on Wednesday. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The firm’s 50-day moving average price is $173.15 and its 200-day moving average price is $211.07. The firm has a market capitalization of $26.06 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 0.71 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. Veeva Systems’s revenue was up 16.0% on a year-over-year basis. 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. On average, research analysts forecast that Veeva Systems Inc. will post 6.41 EPS for the current fiscal year.

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.