Nwam LLC Has $2.47 Million Stock Holdings in Veeva Systems Inc. $VEEV

Nwam LLC increased its position in Veeva Systems Inc. (NYSE:VEEV) by 26.6% during the first quarter, Holdings Channel reports. The firm owned 14,084 shares of the technology company’s stock after buying an additional 2,958 shares during the quarter. Nwam LLC’s holdings in Veeva Systems were worth $2,474,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. SHP Wealth Management acquired a new position in Veeva Systems during the fourth quarter worth approximately $26,000. Board of the Pension Protection Fund acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. boosted its stake 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 acquiring an additional 100 shares during the period. Activest Wealth Management boosted its stake in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 127 shares during the period. Finally, MV Capital Management Inc. acquired a new position in shares of Veeva Systems during the 4th quarter worth approximately $30,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Evercore reaffirmed an “outperform” rating and set a $185.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Citigroup raised their target price on shares of Veeva Systems from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. The Goldman Sachs Group cut 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. Finally, Weiss Ratings raised Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Eighteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.74.

Veeva Systems Stock Performance

VEEV stock opened at $193.71 on Thursday. The company’s 50-day simple moving average is $170.48 and its 200 day simple moving average is $182.95. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The company has a market capitalization of $31.47 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 0.83 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping the consensus estimate 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 revenue was up 16.3% on a year-over-year basis. 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, analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.