California State Teachers Retirement System Decreases Stock Holdings in Veeva Systems Inc. $VEEV

California State Teachers Retirement System lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 235,994 shares of the technology company’s stock after selling 4,969 shares during the quarter. California State Teachers Retirement System’s holdings in Veeva Systems were worth $41,455,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VEEV. Royal Bank of Canada lifted its position in shares of Veeva Systems by 2.7% in the 1st quarter. Royal Bank of Canada now owns 870,281 shares of the technology company’s stock worth $152,873,000 after purchasing an additional 23,117 shares during the period. East Coast Asset Management LLC. bought a new position in shares of Veeva Systems during the first quarter valued at approximately $1,665,000. Empowered Funds LLC increased its holdings in Veeva Systems by 1,604.8% during the first quarter. Empowered Funds LLC now owns 63,642 shares of the technology company’s stock valued at $11,179,000 after buying an additional 59,909 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Veeva Systems by 0.5% during the first quarter. The Manufacturers Life Insurance Company now owns 60,242 shares of the technology company’s stock valued at $10,582,000 after buying an additional 311 shares during the period. Finally, Quantinno Capital Management LP raised its stake in Veeva Systems by 268.6% in the first quarter. Quantinno Capital Management LP now owns 115,682 shares of the technology company’s stock worth $20,321,000 after buying an additional 84,302 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $204.09 on Friday. The stock has a market capitalization of $33.15 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 0.87 and a beta of 0.94. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The firm’s 50 day simple moving average is $178.56 and its 200-day simple moving average is $180.41.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same quarter last year, the firm posted $1.97 EPS. The business’s 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. Analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on VEEV. The Goldman Sachs Group cut their target price on Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research note on Thursday, June 4th. Weiss Ratings raised shares of Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. BMO Capital Markets lowered their price target on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating on the stock in a report on Thursday, June 4th. Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, Barclays reduced their price objective on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.