ABN Amro Investment Solutions Increases Holdings in Veeva Systems Inc. $VEEV

ABN Amro Investment Solutions raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 16.8% in the 1st quarter, HoldingsChannel reports. The fund owned 89,729 shares of the technology company’s stock after buying an additional 12,920 shares during the quarter. ABN Amro Investment Solutions’ holdings in Veeva Systems were worth $15,762,000 as of its most recent SEC filing.

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

Veeva Systems Trading Down 4.0%

VEEV stock opened at $189.46 on Wednesday. The company has a market capitalization of $30.78 billion, a P/E ratio of 33.77, a PEG ratio of 0.85 and a beta of 0.94. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The business has a 50 day simple moving average of $173.03 and a 200-day simple moving average of $182.13.

Veeva Systems (NYSE:VEEV) last announced its 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 company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the firm 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. Research analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the subject of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $275.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Weiss Ratings raised shares of Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Robert W. Baird upped their price objective on shares of Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.74.

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.