E. Ohman J or Asset Management AB Acquires 3,631 Shares of Veeva Systems Inc. $VEEV

E. Ohman J or Asset Management AB lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,855 shares of the technology company’s stock after purchasing an additional 3,631 shares during the period. E. Ohman J or Asset Management AB’s holdings in Veeva Systems were worth $27,305,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Empire Life Investments Inc. raised its position in shares of Veeva Systems by 21.1% during the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock valued at $8,272,000 after purchasing an additional 6,453 shares during the period. Farther Finance Advisors LLC boosted its holdings in Veeva Systems by 217.2% in the 4th quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock worth $2,337,000 after buying an additional 7,169 shares during the period. Pictet Asset Management Holding SA increased its stake in Veeva Systems by 14.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock worth $247,817,000 after buying an additional 137,965 shares in the last quarter. KBC Group NV increased its stake in Veeva Systems by 180.2% in the 4th quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock worth $44,900,000 after buying an additional 129,346 shares in the last quarter. Finally, BNP Paribas raised its holdings in Veeva Systems by 89.3% during the fourth quarter. BNP Paribas now owns 19,239 shares of the technology company’s stock valued at $4,308,000 after acquiring an additional 9,077 shares during the period. 88.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on VEEV shares. Evercore restated an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. BTIG Research reissued a “buy” rating and set a $340.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. The Goldman Sachs Group lowered their price target on Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a report on Thursday, June 4th. Barclays dropped their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Finally, Zacks Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. One 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $234.27 on Tuesday. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of 41.76, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. The stock has a 50 day moving average price of $184.73 and a 200-day moving average price of $179.95. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50.

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, beating the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million for 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%.Veeva Systems’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.97 EPS. 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. Sell-side analysts predict that Veeva Systems Inc. will post 6.65 earnings per share 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.