Andra AP fonden Sells 32,100 Shares of Veeva Systems Inc. $VEEV

Andra AP fonden lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 27.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 82,917 shares of the technology company’s stock after selling 32,100 shares during the quarter. Andra AP fonden’s holdings in Veeva Systems were worth $14,565,000 at the end of the most recent quarter.

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

Veeva Systems Trading Down 4.0%

Shares of VEEV opened at $189.46 on Wednesday. The company has a market cap of $30.78 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 0.85 and a beta of 0.94. The business’s fifty day simple moving average is $173.03 and its two-hundred day simple moving average is $182.13. 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 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The business 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 revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.97 EPS. 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, research analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current year.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction 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 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 Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VEEV shares. Stifel Nicolaus decreased their price target on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, June 4th. Evercore restated an “outperform” rating and issued a $185.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday. Oppenheimer reiterated an “outperform” rating on shares of Veeva Systems in a report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $247.74.

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.