Swiss National Bank Has $80.50 Million Holdings in Veeva Systems Inc. $VEEV

Swiss National Bank boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 7.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 458,300 shares of the technology company’s stock after acquiring an additional 31,600 shares during the quarter. Swiss National Bank’s holdings in Veeva Systems were worth $80,505,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VEEV. SHP Wealth Management bought a new stake in Veeva Systems during the 4th quarter worth approximately $26,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of 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 purchasing an additional 100 shares in the last quarter. Activest Wealth Management lifted its holdings 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 purchasing an additional 127 shares in the last quarter. MV Capital Management Inc. bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $30,000. Finally, Reflection Asset Management purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the firm’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 transaction of $116,730.00. Following the completion of the sale, the director owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. BTIG Research restated a “buy” rating and set a $340.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Mizuho reduced their target price on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Finally, Stifel Nicolaus lowered their target price on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $247.74.

Veeva Systems Price Performance

NYSE VEEV opened at $189.46 on Wednesday. The business’s fifty day moving average is $173.03 and its 200-day moving average is $182.13. The stock has a market capitalization of $30.78 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 0.85 and a beta of 0.94. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the company posted $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. Research analysts expect 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.