Pacer Advisors Inc. Sells 57,313 Shares of Veeva Systems Inc. $VEEV

Pacer Advisors Inc. trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV) by 50.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,568 shares of the technology company’s stock after selling 57,313 shares during the period. Pacer Advisors Inc.’s holdings in Veeva Systems were worth $12,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth $2,089,000. MV Capital Management Inc. purchased a new position in shares of Veeva Systems in the fourth quarter valued at $30,000. Van Diest Capital LLC purchased a new position in shares of Veeva Systems in the fourth quarter valued at $269,000. Invesco Ltd. raised its stake in shares of Veeva Systems by 12.5% during the 4th quarter. Invesco Ltd. now owns 323,302 shares of the technology company’s stock valued at $72,171,000 after purchasing an additional 35,832 shares during the period. Finally, Rare Wolf Capital LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at $1,703,000. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the subject of several analyst reports. Zacks Research downgraded Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. BTIG Research reiterated a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. William Blair restated an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Finally, Canaccord Genuity Group cut 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 report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $250.96.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $153.20 on Friday. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The company has a market capitalization of $24.89 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. The business’s fifty day moving average is $163.55 and its 200 day moving average is $189.23.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data 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. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same quarter last year, the company earned $1.97 earnings per share. The firm’s quarterly revenue 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. On average, sell-side analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by insiders.

Veeva Systems Company Profile

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.