SEB Asset Management AB Makes New Investment in Veeva Systems Inc. $VEEV

SEB Asset Management AB bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 255,970 shares of the technology company’s stock, valued at approximately $44,964,000.

A number of other large investors have also modified their holdings of the stock. SHP Wealth Management acquired a new position in Veeva Systems during the 4th quarter worth approximately $26,000. Board of the Pension Protection Fund acquired a new stake in Veeva Systems in the fourth quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. grew its position in Veeva Systems by 322.6% in the fourth 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 in the last quarter. Activest Wealth Management raised its stake 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 valued at $29,000 after purchasing an additional 127 shares during the period. Finally, MV Capital Management Inc. purchased a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

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 stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director owned 3,253 shares in the company, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

Veeva Systems Stock Performance

VEEV opened at $195.62 on Friday. The company has a 50-day moving average of $171.66 and a 200-day moving average of $182.85. The company has a market capitalization of $31.78 billion, a P/E ratio of 34.87, a PEG ratio of 0.84 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 issued its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) 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 business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the prior year, the business posted $1.97 EPS. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. 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, sell-side analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VEEV shares. Canaccord Genuity Group decreased their target price on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Stifel Nicolaus dropped their price target on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. Zacks Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. BMO Capital Markets decreased their price objective 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. Finally, Robert W. Baird raised their target price on Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $247.74.

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.