BI Asset Management Fondsmaeglerselskab A S Sells 9,786 Shares of Veeva Systems Inc. $VEEV

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 58.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,060 shares of the technology company’s stock after selling 9,786 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Veeva Systems were worth $1,240,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SHP Wealth Management bought a new position in Veeva Systems during the fourth quarter worth $26,000. Board of the Pension Protection Fund bought a new position in shares of Veeva Systems in the fourth quarter valued at about $27,000. Newbridge Financial Services Group Inc. lifted 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 buying an additional 100 shares during the last quarter. Activest Wealth Management lifted 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 buying an additional 127 shares during the last quarter. Finally, MV Capital Management Inc. bought a new stake in shares of Veeva Systems during the 4th quarter worth about $30,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 1.1%

NYSE VEEV opened at $161.44 on Thursday. The company has a market capitalization of $26.22 billion, a P/E ratio of 28.78, a P/E/G ratio of 0.69 and a beta of 0.95. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The firm has a 50-day moving average price of $163.70 and a two-hundred day moving average price of $187.12.

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

Insiders Place Their Bets

In other news, Director Priscilla Hung sold 750 shares of the company’s 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 in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

VEEV has been the topic of a number of research reports. Canaccord Genuity Group decreased their price target on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. BMO Capital Markets reduced their price objective on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. BTIG Research reaffirmed a “buy” rating and issued a $340.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Piper Sandler lowered their target price on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $250.96.

About Veeva Systems

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.