Fairman Group LLC Has $818,000 Stake in Veeva Systems Inc. $VEEV

Fairman Group LLC lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 72.0% in the first quarter, HoldingsChannel.com reports. The fund owned 4,659 shares of the technology company’s stock after selling 12,000 shares during the quarter. Veeva Systems comprises 0.7% of Fairman Group LLC’s portfolio, making the stock its 22nd biggest position. Fairman Group LLC’s holdings in Veeva Systems were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of VEEV. Robeco Institutional Asset Management B.V. increased its position in 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 valued at $199,137,000 after acquiring an additional 90,703 shares in the last quarter. Elo Mutual Pension Insurance Co raised its stake in shares of Veeva Systems by 50.2% in the third quarter. Elo Mutual Pension Insurance Co now owns 26,541 shares of the technology company’s stock worth $7,907,000 after acquiring an additional 8,869 shares during the last quarter. Empire Life Investments Inc. lifted its position 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 worth $8,272,000 after purchasing an additional 6,453 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Veeva Systems by 4.1% during the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock worth $1,770,071,000 after purchasing an additional 235,983 shares in the last quarter. Finally, Farther Finance Advisors LLC grew 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 purchasing an additional 7,169 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $177.69 on Wednesday. The company’s 50 day simple moving average is $164.13 and its 200 day simple moving average is $185.30. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The firm has a market capitalization of $28.86 billion, a P/E ratio of 31.67, a P/E/G ratio of 0.76 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.97 EPS. 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. Sell-side analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on 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 directly owned 3,253 shares of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VEEV. TD Cowen reissued a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Weiss Ratings downgraded Veeva Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Zacks Research cut Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, BMO Capital Markets dropped their target price on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $250.96.

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.