Veeva Systems Inc. $VEEV Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 757.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 485,046 shares of the technology company’s stock after acquiring an additional 428,478 shares during the period. Pacer Advisors Inc.’s holdings in Veeva Systems were worth $85,203,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VEEV. Williams Jones Wealth Management LLC. boosted its stake in shares of Veeva Systems by 0.4% in the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock valued at $2,806,000 after buying an additional 40 shares during the period. Personal CFO Solutions LLC increased its stake in shares of Veeva Systems by 4.3% during the fourth quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company’s stock worth $271,000 after buying an additional 50 shares during the period. Rafferty Asset Management LLC increased its stake in shares of Veeva Systems by 0.7% during the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock worth $1,982,000 after buying an additional 51 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Veeva Systems by 8.1% in the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock valued at $214,000 after acquiring an additional 54 shares in the last quarter. Finally, Main Management ETF Advisors LLC raised its holdings in Veeva Systems by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company’s stock valued at $1,224,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $204.09 on Monday. The firm’s fifty day simple moving average is $178.56 and its 200-day simple moving average is $180.04. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The stock has a market capitalization of $33.15 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 0.88 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. During the same quarter in the prior year, the business earned $1.97 EPS. Veeva Systems’s quarterly revenue was up 16.3% compared to the same quarter last year. 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. Analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on VEEV shares. Wells Fargo & Company boosted their price target on shares of Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Piper Sandler reduced their price objective on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Robert W. Baird lifted their price objective on shares of Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Guggenheim started coverage on Veeva Systems in a report on Thursday, July 23rd. They issued a “buy” rating and a $232.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company 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.