Bright Rock Capital Management LLC Grows Holdings in Veeva Systems Inc. $VEEV

Bright Rock Capital Management LLC raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 100.0% during the second quarter, Holdings Channel reports. The firm owned 86,000 shares of the technology company’s stock after buying an additional 43,000 shares during the quarter. Veeva Systems makes up approximately 3.1% of Bright Rock Capital Management LLC’s portfolio, making the stock its 7th biggest position. Bright Rock Capital Management LLC’s holdings in Veeva Systems were worth $15,262,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. SHP Wealth Management bought a new stake in shares of Veeva Systems during the 4th quarter valued at about $26,000. Newbridge Financial Services Group Inc. raised its stake in Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Activest Wealth Management raised its stake in Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 127 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in Veeva Systems in the second quarter worth about $29,000. Finally, MV Capital Management Inc. purchased a new stake in Veeva Systems in the fourth quarter worth about $30,000. 88.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. BNP Paribas Exane restated an “outperform” rating and issued a $285.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. UBS Group dropped their price target on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Robert W. Baird increased their price objective on Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Finally, BMO Capital Markets decreased their price objective on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. One research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

Veeva Systems Stock Up 5.6%

VEEV stock opened at $229.93 on Friday. The business has a 50 day moving average of $183.83 and a 200 day moving average of $180.11. The firm has a market cap of $37.35 billion, a PE ratio of 40.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV) last released its earnings results 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 return on equity of 13.72% and a net margin of 28.37%.The business had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same period in the previous year, the company posted $1.97 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. 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, research analysts expect that Veeva Systems Inc. will post 6.65 earnings per share 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.