Investors Research Corp Takes $368,000 Position in Veeva Systems Inc. $VEEV

Investors Research Corp bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 2,075 shares of the technology company’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. SHP Wealth Management acquired a new position in shares of Veeva Systems during the fourth quarter worth $26,000. Activest Wealth Management grew its holdings in Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 127 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Veeva Systems during the 4th quarter valued at $30,000. Reflection Asset Management purchased a new stake in Veeva Systems during the 4th quarter worth $32,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in Veeva Systems during the 4th quarter worth $33,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Up 1.9%

VEEV opened at $241.07 on Thursday. The company’s 50-day moving average price is $187.06 and its 200 day moving average price is $180.18. 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 cap of $39.16 billion, a price-to-earnings ratio of 42.97, a price-to-earnings-growth ratio of 1.02 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last issued 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 the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.Veeva Systems’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm 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. Research analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a research report on Thursday, June 4th. TD Cowen reaffirmed a “buy” rating on shares of Veeva Systems in a research report on Thursday, June 4th. UBS Group cut their price target on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Wells Fargo & Company increased their price target on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Finally, BNP Paribas Exane restated an “outperform” rating and set a $285.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. One investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $247.08.

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.