Barlow Wealth Partners LLC Sells 16,908 Shares of Veeva Systems Inc. $VEEV

Barlow Wealth Partners LLC cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 31.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 37,089 shares of the technology company’s stock after selling 16,908 shares during the quarter. Barlow Wealth Partners LLC’s holdings in Veeva Systems were worth $8,906,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Alphinity Investment Management Pty Ltd acquired a new position in shares of Veeva Systems in the third quarter valued at approximately $422,241,000. Norges Bank acquired a new stake in shares of Veeva Systems during the second quarter worth $384,265,000. Durable Capital Partners LP acquired a new stake in shares of Veeva Systems during the second quarter worth $281,351,000. AQR Capital Management LLC lifted its position in Veeva Systems by 111.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock valued at $526,508,000 after acquiring an additional 969,905 shares in the last quarter. Finally, ABN AMRO Bank N.V. bought a new stake in Veeva Systems in the 3rd quarter valued at $246,625,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

Veeva Systems stock opened at $172.61 on Monday. The company’s 50-day moving average is $190.20 and its 200-day moving average is $236.89. The firm has a market capitalization of $28.19 billion, a PE ratio of 31.91, a P/E/G ratio of 1.14 and a beta of 1.09. Veeva Systems Inc. has a fifty-two week low of $168.13 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. Veeva Systems’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $1.74 EPS. 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, analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the technology company to buy up to 5.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the transaction, the insider directly owned 23,204 shares in the company, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VEEV. Citigroup lowered their target price on Veeva Systems from $319.00 to $291.00 and set a “buy” rating for the company in a report on Monday, March 9th. Barclays reduced their price objective on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. KeyCorp reiterated a “sector weight” rating on shares of Veeva Systems in a report on Friday, December 12th. Piper Sandler dropped their target price on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Finally, William Blair restated an “outperform” rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $283.70.

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.