OP Asset Management Ltd Invests $2.90 Million in Veeva Systems Inc. $VEEV

OP Asset Management Ltd acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,491 shares of the technology company’s stock, valued at approximately $2,897,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VEEV. SHP Wealth Management purchased a new position in Veeva Systems in the 4th quarter valued at about $26,000. Board of the Pension Protection Fund acquired a new stake in shares of Veeva Systems during the 4th quarter worth about $27,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Activest Wealth Management raised its position in shares of Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 127 shares during the last quarter. Finally, MV Capital Management Inc. purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the firm’s 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 completion of the sale, the director directly 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. Insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. 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. Citigroup increased their target price on Veeva Systems from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Oppenheimer restated an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Evercore reiterated an “outperform” rating and set a $185.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $250.96.

Veeva Systems Trading Up 8.3%

Shares of NYSE VEEV opened at $171.28 on Friday. The stock has a fifty day moving average price of $163.76 and a 200 day moving average price of $186.42. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The company has a market cap of $27.82 billion, a P/E ratio of 30.53, a P/E/G ratio of 0.74 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior 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, sell-side analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

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.