Edgestream Partners L.P. Acquires New Shares in Veeva Systems Inc. $VEEV

Edgestream Partners L.P. acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 31,839 shares of the technology company’s stock, valued at approximately $5,593,000.

Several other large investors have also added to or reduced their stakes in the stock. SHP Wealth Management purchased a new position in Veeva Systems during the 4th quarter valued at about $26,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of 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 boosted its position in shares of Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares during the period. MV Capital Management Inc. bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $30,000. Finally, Reflection Asset Management bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $32,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $202.06 on Friday. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The company has a market capitalization of $32.82 billion, a P/E ratio of 36.02, a P/E/G ratio of 0.89 and a beta of 0.94. The firm’s 50 day simple moving average is $177.69 and its 200 day simple moving average is $180.24.

Veeva Systems (NYSE:VEEV) last released its quarterly 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 business had revenue of $882.95 million during the quarter, compared to analysts’ expectations 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 company 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. On average, equities analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VEEV. Zacks Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Evercore restated an “outperform” rating and set a $185.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. BTIG Research reaffirmed a “buy” rating and issued a $340.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Mizuho lowered their price objective on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. One equities 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, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

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.