Sumitomo Mitsui DS Asset Management Company Ltd Sells 4,647 Shares of Veeva Systems Inc. $VEEV

Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 22.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,984 shares of the technology company’s stock after selling 4,647 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Veeva Systems were worth $3,568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. McIlrath & Eck LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth approximately $156,000. Principal Financial Group Inc. lifted its stake in shares of Veeva Systems by 0.6% during the 4th 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 last quarter. FWG Holdings LLC lifted its stake in shares of Veeva Systems by 26.8% during the 4th quarter. FWG Holdings LLC now owns 2,733 shares of the technology company’s stock worth $557,000 after acquiring an additional 578 shares during the last quarter. Varma Mutual Pension Insurance Co bought a new stake in shares of Veeva Systems during the 4th quarter worth approximately $8,527,000. Finally, PKO Investment Management Joint Stock Co lifted its stake in shares of Veeva Systems by 28.6% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 2,700 shares of the technology company’s stock worth $603,000 after acquiring an additional 600 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VEEV shares. Canaccord Genuity Group decreased their price target on Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Zacks Research raised Veeva Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Oppenheimer decreased their price target on Veeva Systems from $325.00 to $275.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. decreased their price target on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.70.

Veeva Systems Stock Down 1.2%

Shares of NYSE VEEV opened at $166.21 on Friday. The business has a fifty day simple moving average of $174.27 and a two-hundred day simple moving average of $213.74. The firm has a market cap of $27.15 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month 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 for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.Veeva Systems’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company 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. On average, research analysts expect that Veeva Systems Inc. will post 6.41 earnings per share for the current year.

Veeva Systems 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.