ABN AMRO Bank N.V. Sells 24,110 Shares of Veeva Systems Inc. $VEEV

ABN AMRO Bank N.V. cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 3.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 627,571 shares of the technology company’s stock after selling 24,110 shares during the quarter. Veeva Systems makes up about 1.2% of ABN AMRO Bank N.V.’s holdings, making the stock its 28th largest holding. ABN AMRO Bank N.V.’s holdings in Veeva Systems were worth $111,273,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of VEEV. SHP Wealth Management acquired a new stake in Veeva Systems during the 4th quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems during the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. increased its position in shares of Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Activest Wealth Management raised its holdings in shares of Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 127 shares during the period. Finally, MV Capital Management Inc. acquired a new position in Veeva Systems in the 4th quarter worth $30,000. 88.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director owned 3,253 shares of the company’s stock, valued at $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 is available 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 corporate insiders.

Veeva Systems Stock Performance

NYSE:VEEV opened at $171.28 on Friday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The firm’s 50-day simple moving average is $163.76 and its 200 day simple moving average is $186.42. The firm has a market cap of $27.82 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 0.74 and a beta of 0.95.

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, beating the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company 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. Sell-side analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on VEEV. Wells Fargo & Company lifted their price target on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. BNP Paribas Exane reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. BMO Capital Markets cut their target price on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. Finally, Needham & Company LLC reaffirmed 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, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.96.

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.