Mediolanum International Funds Ltd Grows Stake in Veeva Systems Inc. $VEEV

Mediolanum International Funds Ltd grew its position in Veeva Systems Inc. (NYSE:VEEV) by 5.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 69,889 shares of the technology company’s stock after purchasing an additional 3,770 shares during the period. Mediolanum International Funds Ltd’s holdings in Veeva Systems were worth $12,298,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SHP Wealth Management acquired a new stake in shares of Veeva Systems in the 4th quarter worth $26,000. Newbridge Financial Services Group Inc. increased its position in Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Activest Wealth Management increased its position in Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 127 shares in the last quarter. MV Capital Management Inc. purchased a new stake in Veeva Systems in the fourth quarter valued at about $30,000. Finally, Reflection Asset Management purchased a new stake in Veeva Systems in the fourth quarter valued at about $32,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $195.62 on Monday. The firm has a fifty day moving average price of $171.66 and a 200 day moving average price of $182.55. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a market cap of $31.78 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 0.84 and a beta of 0.94.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and set a $275.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Barclays lowered their target price on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. The Goldman Sachs Group dropped their target price on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research report on Thursday, June 4th. Finally, TD Cowen restated a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.74.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

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.