Lazard Asset Management LLC Grows Position in Veeva Systems Inc. $VEEV

Lazard Asset Management LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 24.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,841 shares of the technology company’s stock after acquiring an additional 6,205 shares during the quarter. Lazard Asset Management LLC’s holdings in Veeva Systems were worth $5,593,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in VEEV. Williams Jones Wealth Management LLC. boosted its holdings in Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock worth $2,806,000 after buying an additional 40 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in Veeva Systems by 4.3% in the fourth quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company’s stock valued at $271,000 after buying an additional 50 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Veeva Systems by 0.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock valued at $1,982,000 after acquiring an additional 51 shares during the period. Brown Brothers Harriman & Co. lifted its position in shares of Veeva Systems by 8.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock valued at $214,000 after acquiring an additional 54 shares during the period. Finally, Main Management ETF Advisors LLC boosted its stake in shares of Veeva Systems by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company’s stock worth $1,224,000 after acquiring an additional 56 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays lowered their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Stifel Nicolaus reduced their price objective on Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Evercore reiterated an “outperform” rating and set a $185.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Weiss Ratings raised Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Canaccord Genuity Group dropped their price target on Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems Stock Performance

VEEV stock opened at $202.06 on Friday. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The stock’s 50 day moving average price is $177.69 and its 200 day moving average price is $180.24. The firm has a market cap of $32.82 billion, a P/E ratio of 36.02, a PEG ratio of 0.89 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last released its quarterly 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. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same quarter last year, the business 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, research analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

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.