Pictet Asset Management Holding SA Purchases 483,720 Shares of Veeva Systems Inc. $VEEV

Pictet Asset Management Holding SA raised its position in Veeva Systems Inc. (NYSE:VEEV) by 43.6% in the 1st quarter, Holdings Channel reports. The firm owned 1,593,795 shares of the technology company’s stock after buying an additional 483,720 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Veeva Systems were worth $279,970,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VEEV. Norges Bank bought a new position in shares of Veeva Systems in the fourth quarter worth $332,412,000. Durable Capital Partners LP bought a new position in Veeva Systems in the 2nd quarter worth about $281,351,000. AQR Capital Management LLC raised its holdings in shares of Veeva Systems by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock valued at $706,078,000 after acquiring an additional 574,164 shares in the last quarter. Greenoaks Capital Partners LLC raised its holdings in shares of Veeva Systems by 198.2% in the 4th quarter. Greenoaks Capital Partners LLC now owns 694,926 shares of the technology company’s stock valued at $155,128,000 after acquiring an additional 461,908 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Veeva Systems by 10,109.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 356,920 shares of the technology company’s stock valued at $79,675,000 after acquiring an additional 353,424 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Up 8.3%

Shares of NYSE VEEV opened at $171.28 on Friday. The stock’s 50-day moving average is $163.76 and its 200 day moving average is $186.42. The stock 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 Inc. has a 1-year low of $148.05 and a 1-year high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. The business had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the business earned $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. On average, analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the 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 of the company’s stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on VEEV shares. UBS Group decreased their price objective on shares of Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. BMO Capital Markets dropped 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 report on Thursday, June 4th. Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. The Goldman Sachs Group decreased their price target on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a report on Thursday, June 4th. Finally, Oppenheimer restated an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $250.96.

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.