Veeva Systems Inc. $VEEV Shares Sold by Ashe Capital Management LP

Ashe Capital Management LP cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,417 shares of the technology company’s stock after selling 14,500 shares during the quarter. Veeva Systems accounts for 10.0% of Ashe Capital Management LP’s portfolio, making the stock its 6th biggest holding. Ashe Capital Management LP owned 0.28% of Veeva Systems worth $79,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its stake in shares of Veeva Systems by 11.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock worth $199,137,000 after purchasing an additional 90,703 shares during the last quarter. Empire Life Investments Inc. raised its position in shares of Veeva Systems by 21.1% in the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock valued at $8,272,000 after buying an additional 6,453 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 buying an additional 7,169 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Veeva Systems by 14.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock valued at $247,817,000 after buying an additional 137,965 shares during the period. Finally, BNP Paribas grew its stake in Veeva Systems by 89.3% in the 4th quarter. BNP Paribas now owns 19,239 shares of the technology company’s stock worth $4,308,000 after acquiring an additional 9,077 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

More Veeva Systems News

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Guggenheim upgraded Veeva Systems to strong-buy and later set a $232 price target, implying meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: Investor interest is being supported by articles highlighting Veeva as a cash-heavy stock with financial stability, which may appeal to defensive growth investors. Yahoo Finance
• Positive Sentiment: Recent commentary points to steady execution and attractive P/E multiples, reinforcing the view that Veeva’s fundamentals remain solid ahead of its next earnings report. Seeking Alpha
• Neutral Sentiment: Several recent articles focus on what to expect from Veeva’s next earnings release and broader analyst sentiment, suggesting the stock may remain sensitive to upcoming guidance and results. MSN
• Negative Sentiment: The stock had recently declined more than the broader market, reminding investors that near-term volatility remains a risk despite the positive analyst coverage. Yahoo Finance

Veeva Systems Stock Performance

VEEV opened at $186.06 on Friday. The firm has a 50 day moving average price of $174.59 and a 200 day moving average price of $181.60. The company has a market cap of $30.22 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating 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 firm had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. During the same period in the previous year, the company posted $1.97 earnings per share. Veeva Systems’s revenue 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. On average, sell-side analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems 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 owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VEEV. UBS Group cut their price target on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. BTIG Research reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Stifel Nicolaus dropped their target price on Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, June 4th. Canaccord Genuity Group dropped their target price on Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Finally, Wells Fargo & Company increased their target price on Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

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.