Veeva Systems Inc. $VEEV Holdings Trimmed by Assetmark Inc.

Assetmark Inc. cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,405 shares of the technology company’s stock after selling 4,636 shares during the quarter. Assetmark Inc. owned about 0.08% of Veeva Systems worth $22,204,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in VEEV. SHP Wealth Management bought a new stake in Veeva Systems during the fourth quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new position in shares of Veeva Systems in the fourth quarter valued at $27,000. Newbridge Financial Services Group Inc. lifted its position in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Activest Wealth Management lifted its position in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares during the last quarter. Finally, MV Capital Management Inc. bought a new stake in shares of Veeva Systems during the 4th quarter worth $30,000. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VEEV shares. Mizuho decreased their target price on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Wells Fargo & Company increased their price target on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Robert W. Baird raised their target price on shares of Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.74.

Insiders Place Their Bets

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

Veeva Systems Trading Down 0.9%

Shares of Veeva Systems stock opened at $195.62 on Friday. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The company has a market cap of $31.78 billion, a P/E ratio of 34.87, a P/E/G ratio of 0.84 and a beta of 0.94. The stock has a 50-day moving average price of $171.66 and a 200 day moving average price of $182.85.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million for 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 business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business 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. On average, equities analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

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.