MH & Associates Securities Management Corp ADV Acquires New Holdings in Veeva Systems Inc. $VEEV

MH & Associates Securities Management Corp ADV bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,964 shares of the technology company’s stock, valued at approximately $3,130,000. Veeva Systems comprises about 2.7% of MH & Associates Securities Management Corp ADV’s portfolio, making the stock its 15th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Veeva Systems by 7.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock valued at $727,513,000 after purchasing an additional 271,252 shares during the last quarter. Amundi lifted its position in Veeva Systems by 8.0% in the first quarter. Amundi now owns 992,977 shares of the technology company’s stock valued at $174,426,000 after buying an additional 73,510 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Veeva Systems by 203.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after buying an additional 611,868 shares during the last quarter. Royal Bank of Canada boosted its stake in Veeva Systems by 2.7% during the first quarter. Royal Bank of Canada now owns 870,281 shares of the technology company’s stock worth $152,873,000 after buying an additional 23,117 shares during the period. Finally, Fundsmith LLP acquired a new stake in shares of Veeva Systems during the second quarter valued at about $144,955,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In other news, EVP Daniel Rizzo sold 4,841 shares of Veeva Systems stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $276.51, for a total value of $1,338,584.91. Following the completion of the transaction, the executive vice president owned 7,665 shares in the company, valued at approximately $2,119,449.15. This trade represents a 38.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the transaction, the director directly owned 3,242 shares of the company’s stock, valued at approximately $846,291.68. This represents a 18.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,789 shares of company stock worth $14,913,889 over the last 90 days. 10.60% of the stock is currently owned by company insiders.

Veeva Systems Stock Up 2.5%

Shares of VEEV stock opened at $310.79 on Thursday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $325.99. The stock has a market capitalization of $50.32 billion, a PE ratio of 51.12, a P/E/G ratio of 1.29 and a beta of 0.89. The firm has a 50 day moving average of $287.53 and a two-hundred day moving average of $211.07.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $1.99 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. Analysts expect that Veeva Systems Inc. will post 6.70 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VEEV shares. Morgan Stanley upped their price objective on shares of Veeva Systems from $215.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Oppenheimer reissued an “outperform” rating and issued a $325.00 target price on shares of Veeva Systems in a research report on Thursday, October 15th. UBS Group upped their price target on Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Jefferies Financial Group restated a “buy” rating and set a $295.00 price target on shares of Veeva Systems in a research report on Thursday, August 27th. Finally, Mizuho set a $345.00 price objective on Veeva Systems in a research note on Thursday, October 29th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.21.

About Veeva Systems

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.