Ashe Capital Management LP Trims Stock Holdings in Veeva Systems Inc. $VEEV

Ashe Capital Management LP reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 467,917 shares of the technology company’s stock after selling 82,574 shares during the period. Veeva Systems comprises approximately 10.1% of Ashe Capital Management LP’s portfolio, making the stock its 5th biggest holding. Ashe Capital Management LP’s holdings in Veeva Systems were worth $104,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Boothbay Fund Management LLC bought a new position in Veeva Systems during the fourth quarter valued at approximately $373,000. Freestone Grove Partners LP purchased a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $2,404,000. Caisse de depot et placement du Quebec boosted its stake in shares of Veeva Systems by 22.6% during the fourth quarter. Caisse de depot et placement du Quebec now owns 322,036 shares of the technology company’s stock valued at $71,888,000 after purchasing an additional 59,304 shares during the period. Greenoaks Capital Partners LLC boosted its stake in shares of Veeva Systems by 198.2% during the fourth quarter. Greenoaks Capital Partners LLC now owns 694,926 shares of the technology company’s stock valued at $155,128,000 after purchasing an additional 461,908 shares during the period. Finally, RGM Capital LLC boosted its stake in shares of Veeva Systems by 18.5% during the fourth quarter. RGM Capital LLC now owns 556,572 shares of the technology company’s stock valued at $124,244,000 after purchasing an additional 86,824 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

Veeva Systems Trading Down 5.4%

Shares of Veeva Systems stock opened at $154.48 on Thursday. The firm has a market capitalization of $25.09 billion, a P/E ratio of 27.54, a P/E/G ratio of 0.70 and a beta of 0.95. The business has a fifty day simple moving average of $164.20 and a two-hundred day simple moving average of $190.10. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to analyst estimates 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 for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the firm 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. Analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Robert W. Baird increased their price objective on Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Zacks Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Wells Fargo & Company increased their price objective on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, Mizuho dropped their price target on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $250.96.

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.