Cumberland Partners Ltd Buys 10,500 Shares of Veeva Systems Inc. $VEEV

Cumberland Partners Ltd grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 67.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,000 shares of the technology company’s stock after purchasing an additional 10,500 shares during the quarter. Cumberland Partners Ltd’s holdings in Veeva Systems were worth $5,804,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Veeva Systems by 3.1% in the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after purchasing an additional 457,806 shares during the period. Alliancebernstein L.P. increased its position in 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 acquiring an additional 235,983 shares during the period. Principal Financial Group Inc. increased its position in Veeva Systems by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company’s stock worth $863,978,000 after acquiring an additional 23,416 shares during the period. State Street Corp increased its position in Veeva Systems by 2.2% during the third quarter. State Street Corp now owns 3,503,730 shares of the technology company’s stock worth $1,043,796,000 after acquiring an additional 76,397 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Veeva Systems by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock worth $1,035,622,000 after acquiring an additional 159,984 shares during the period. 88.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on VEEV shares. Royal Bank Of Canada lowered their price target on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Truist Financial reaffirmed a “buy” rating and set a $262.00 price target (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Canaccord Genuity Group lowered their price target on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. Zacks Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $276.52.

Veeva Systems Stock Performance

Veeva Systems stock opened at $160.40 on Friday. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The firm has a 50 day moving average price of $168.39 and a two-hundred day moving average price of $204.33. The firm has a market cap of $26.20 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 0.70 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The firm had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. During the same quarter last year, the business earned $1.74 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. 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 research analysts predict that Veeva Systems Inc. will post 6.45 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

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.