110,000 Shares in Veeva Systems Inc. $VEEV Bought by Sellaronda Global Management LP

Sellaronda Global Management LP purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 110,000 shares of the technology company’s stock, valued at approximately $19,323,000. Veeva Systems makes up approximately 12.7% of Sellaronda Global Management LP’s holdings, making the stock its 3rd largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of VEEV. Williams Jones Wealth Management LLC. boosted its position in shares of Veeva Systems by 0.4% during the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock valued at $2,806,000 after acquiring an additional 40 shares in the last quarter. Personal CFO Solutions LLC raised its position in Veeva Systems by 4.3% in the fourth quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company’s stock worth $271,000 after purchasing an additional 50 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in Veeva Systems by 0.7% during the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock worth $1,982,000 after purchasing an additional 51 shares during the period. Brown Brothers Harriman & Co. lifted its stake in Veeva Systems by 8.1% during the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock worth $214,000 after purchasing an additional 54 shares during the period. Finally, Northwest Wealth Management LLC boosted its holdings in Veeva Systems by 6.1% during the fourth quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company’s stock valued at $213,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. This represents a 18.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

Veeva Systems Trading Down 2.8%

NYSE:VEEV opened at $179.36 on Friday. The stock has a market capitalization of $29.14 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 0.79 and a beta of 0.94. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The firm has a 50 day moving average of $174.05 and a 200-day moving average of $181.57.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same period in the prior year, the company earned $1.97 EPS. Veeva Systems’s revenue for the quarter 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, analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Analysts Set New Price Targets

VEEV has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Wells Fargo & Company upped their price target on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Piper Sandler dropped their price objective on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Stifel Nicolaus cut their price objective on Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Finally, Oppenheimer restated an “outperform” rating on shares of Veeva Systems in a research note on Monday. Nineteen equities 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.