Bull Harbor Capital LLC Invests $874,000 in Veeva Systems Inc. $VEEV

Bull Harbor Capital LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,976 shares of the technology company’s stock, valued at approximately $874,000.

A number of other institutional investors have also made changes to their positions in VEEV. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Veeva Systems by 11.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock worth $199,137,000 after buying an additional 90,703 shares during the period. Empire Life Investments Inc. increased its stake in shares of Veeva Systems by 21.1% during the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock valued at $8,272,000 after buying an additional 6,453 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Veeva Systems by 217.2% during the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock valued at $2,337,000 after buying an additional 7,169 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of Veeva Systems by 14.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock valued at $247,817,000 after acquiring an additional 137,965 shares in the last quarter. Finally, KBC Group NV lifted its stake in Veeva Systems by 180.2% in the fourth quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock worth $44,900,000 after acquiring an additional 129,346 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $202.06 on Friday. The company has a 50-day simple moving average of $177.69 and a two-hundred day simple moving average of $180.24. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The company has a market capitalization of $32.82 billion, a PE ratio of 36.02, a P/E/G ratio of 0.89 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. The company had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. Veeva Systems’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.97 earnings per share. 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, equities analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on VEEV shares. Zacks Research cut shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. BMO Capital Markets reduced their price target on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. Stifel Nicolaus lowered their price target on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday, June 4th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Oppenheimer reissued an “outperform” rating on shares of Veeva Systems in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems 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.