Robinhood Asset Management LLC Invests $649,000 in Veeva Systems Inc. $VEEV

Robinhood Asset Management LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,907 shares of the technology company’s stock, valued at approximately $649,000.

Several other large investors also recently modified their holdings of VEEV. GPS Wealth Strategies Group LLC boosted its position in shares of Veeva Systems by 196.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after purchasing an additional 55 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Veeva Systems in the third quarter valued at approximately $28,000. OLD Second National Bank of Aurora acquired a new position in Veeva Systems in the third quarter valued at approximately $30,000. Board of the Pension Protection Fund bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $27,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of Veeva Systems by 322.6% during the 4th 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. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the transaction, the insider directly owned 23,204 shares in the company, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several research analyst reports. Oppenheimer lowered their price objective on shares of Veeva Systems from $325.00 to $275.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. William Blair restated an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. Canaccord Genuity Group decreased their price target on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. KeyCorp reiterated a “sector weight” rating on shares of Veeva Systems in a report on Friday, December 12th. Finally, UBS Group increased their price objective on shares of Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $283.70.

Veeva Systems Trading Up 0.5%

VEEV opened at $174.79 on Tuesday. Veeva Systems Inc. has a 1-year low of $168.13 and a 1-year high of $310.50. The company has a market cap of $28.55 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 1.15 and a beta of 1.10. The company’s fifty day moving average price is $184.56 and its two-hundred day moving average price is $232.57.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $835.95 million during the quarter, compared to analysts’ expectations of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the company earned $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, equities analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems declared that its board has authorized a stock repurchase program on Monday, January 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.