NewEdge Advisors LLC Sells 4,569 Shares of Veeva Systems Inc. $VEEV

NewEdge Advisors LLC lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 51.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,305 shares of the technology company’s stock after selling 4,569 shares during the period. NewEdge Advisors LLC’s holdings in Veeva Systems were worth $756,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Robeco Institutional Asset Management B.V. raised its position in Veeva Systems by 11.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock worth $199,137,000 after acquiring an additional 90,703 shares during the period. Empire Life Investments Inc. boosted its holdings in Veeva Systems by 21.1% in the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock worth $8,272,000 after buying an additional 6,453 shares during the period. Farther Finance Advisors LLC raised its holdings in Veeva Systems by 217.2% during the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock valued at $2,337,000 after acquiring an additional 7,169 shares during the period. Pictet Asset Management Holding SA raised its stake in Veeva Systems by 14.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock valued at $247,817,000 after purchasing an additional 137,965 shares during the period. Finally, KBC Group NV boosted its position in shares of Veeva Systems by 180.2% during the fourth quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock worth $44,900,000 after acquiring an additional 129,346 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 0.2%

Shares of VEEV stock opened at $204.09 on Monday. The firm’s fifty day moving average price is $178.56 and its two-hundred day moving average price is $180.04. The firm has a market capitalization of $33.15 billion, a P/E ratio of 36.38, a PEG ratio of 0.88 and a beta of 0.92. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last released its quarterly 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. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same period last year, the firm earned $1.97 earnings per share. Veeva Systems’s revenue for the quarter was up 16.3% compared to the same quarter last year. 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 research analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VEEV shares. Oppenheimer restated an “outperform” rating on shares of Veeva Systems in a report on Monday, July 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $275.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Piper Sandler dropped their target price on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Canaccord Genuity Group reduced their target price on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Finally, Evercore reiterated an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

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.