Independent Financial Group LLC Acquires Shares of 4,752 Veeva Systems Inc. $VEEV

by · The Markets Daily

Independent Financial Group LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,752 shares of the technology company’s stock, valued at approximately $835,000.

Several other hedge funds and other institutional investors have also made changes to their positions in VEEV. Williams Jones Wealth Management LLC. boosted its holdings in Veeva Systems by 0.4% in the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock valued at $2,806,000 after purchasing an additional 40 shares in the last quarter. Personal CFO Solutions LLC raised its holdings in Veeva Systems by 4.3% during 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 raised its holdings 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 in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Veeva Systems by 8.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock worth $214,000 after buying an additional 54 shares during the last quarter. Finally, Northwest Wealth Management LLC lifted its position in shares of Veeva Systems by 6.1% during the 4th quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company’s stock worth $213,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the business’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 transaction, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $189.46 on Wednesday. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The stock has a market capitalization of $30.78 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 0.85 and a beta of 0.94. The company has a 50-day simple moving average of $173.03 and a 200-day simple moving average of $182.13.

Veeva Systems (NYSE:VEEV – Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.97 EPS. 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, research analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on VEEV. Canaccord Genuity Group decreased their price objective on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Needham & Company LLC reiterated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. TD Cowen reissued a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $185.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Robert W. Baird upped their target price on Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $247.74.

View Our Latest Report on VEEV

Veeva Systems Company Profile

(Free Report)

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.

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