QRG Capital Management Inc. Boosts Position in Veeva Systems Inc. $VEEV

QRG Capital Management Inc. lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 41.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,996 shares of the technology company’s stock after buying an additional 4,423 shares during the quarter. QRG Capital Management Inc.’s holdings in Veeva Systems were worth $2,634,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Moran Wealth Management LLC increased its holdings in Veeva Systems by 7.3% during the 1st quarter. Moran Wealth Management LLC now owns 24,557 shares of the technology company’s stock worth $4,314,000 after acquiring an additional 1,680 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in Veeva Systems during the first quarter valued at approximately $301,000. Leelyn Smith LLC lifted its holdings in shares of Veeva Systems by 8.8% during the 1st quarter. Leelyn Smith LLC now owns 10,453 shares of the technology company’s stock worth $1,836,000 after acquiring an additional 848 shares during the last quarter. Argos Wealth Advisors LLC boosted its holdings in shares of Veeva Systems by 3.9% in the 1st quarter. Argos Wealth Advisors LLC now owns 1,720 shares of the technology company’s stock worth $302,000 after purchasing an additional 65 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Veeva Systems by 27.5% in the first quarter. New York State Teachers Retirement System now owns 8,471 shares of the technology company’s stock worth $1,488,000 after buying an additional 1,826 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Cowen reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. BNP Paribas Exane restated an “outperform” rating and issued a $285.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Evercore reiterated an “outperform” rating and set a $185.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Zacks Research cut shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of the 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 sale, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Price Performance

NYSE:VEEV traded up $2.68 during trading hours on Tuesday, hitting $194.69. The company had a trading volume of 545,763 shares, compared to its average volume of 2,682,220. The stock has a 50-day moving average price of $165.52 and a 200 day moving average price of $184.58. The company has a market capitalization of $31.63 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 0.83 and a beta of 0.94. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50.

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