Lombard Odier Asset Management Switzerland SA Buys New Stake in Veeva Systems Inc. $VEEV

Lombard Odier Asset Management Switzerland SA purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,796 shares of the technology company’s stock, valued at approximately $667,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Lombard Odier Asset Management USA Corp acquired a new position in Veeva Systems in the first quarter valued at approximately $283,000. Waverly Advisors LLC raised its stake in Veeva Systems by 104.4% during the 1st quarter. Waverly Advisors LLC now owns 3,399 shares of the technology company’s stock worth $597,000 after acquiring an additional 1,736 shares in the last quarter. Bridgewater Advisors Inc. lifted its position in Veeva Systems by 129.2% in the first quarter. Bridgewater Advisors Inc. now owns 2,239 shares of the technology company’s stock valued at $393,000 after acquiring an additional 1,262 shares during the last quarter. GC Wealth Management RIA LLC lifted its position in Veeva Systems by 3.9% in the first quarter. GC Wealth Management RIA LLC now owns 1,936 shares of the technology company’s stock valued at $340,000 after acquiring an additional 73 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Veeva Systems by 8.3% in the first quarter. Public Employees Retirement System of Ohio now owns 71,412 shares of the technology company’s stock valued at $12,544,000 after acquiring an additional 5,500 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VEEV. BNP Paribas Exane reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Barclays decreased their target price on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Mizuho dropped their price target on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $247.08.

Veeva Systems Stock Performance

VEEV stock opened at $201.54 on Wednesday. The stock has a market capitalization of $32.74 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 0.84 and a beta of 0.94. The company has a fifty day moving average of $175.96 and a 200-day moving average of $180.75. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The business 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 business’s revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business posted $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 forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the firm’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 sale, the director directly owned 3,253 shares of the company’s stock, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

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.