Fideuram Intesa Sanpaolo Private Banking S.P.A. Reduces Holdings in Veeva Systems Inc. $VEEV

Fideuram Intesa Sanpaolo Private Banking S.P.A. decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 24.8% in the 1st quarter, Holdings Channel reports. The fund owned 47,960 shares of the technology company’s stock after selling 15,839 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Veeva Systems were worth $8,425,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its holdings in Veeva Systems by 4.1% during the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after purchasing an additional 235,983 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company’s stock worth $863,978,000 after purchasing an additional 23,416 shares in the last quarter. State Street Corp increased its stake in shares of Veeva Systems by 2.4% in the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after purchasing an additional 85,695 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Veeva Systems by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock valued at $706,442,000 after purchasing an additional 23,117 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Veeva Systems by 31.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock valued at $706,078,000 after buying an additional 574,164 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the subject of several analyst reports. Mizuho cut their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Zacks Research downgraded Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $250.96.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction 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 transaction, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Veeva Systems Trading Up 4.4%

VEEV stock opened at $192.40 on Friday. The firm has a 50 day moving average of $164.94 and a 200-day moving average of $184.77. The firm has a market capitalization of $31.25 billion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 0.79 and a beta of 0.94. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its 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 business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the prior year, the firm posted $1.97 EPS. Veeva Systems’s revenue was up 16.3% on a year-over-year basis. 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. Sell-side analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current year.

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.