Financiere des Professionnels Fonds d investissement inc. Sells 2,954 Shares of Veeva Systems Inc. $VEEV

Financiere des Professionnels Fonds d investissement inc. lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 40.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,275 shares of the technology company’s stock after selling 2,954 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Veeva Systems were worth $751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Robeco Institutional Asset Management B.V. boosted its stake in Veeva Systems by 11.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock valued at $199,137,000 after purchasing an additional 90,703 shares during the last quarter. Empire Life Investments Inc. lifted its holdings in shares of Veeva Systems by 21.1% in the fourth 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 in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Veeva Systems by 217.2% in the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock valued at $2,337,000 after purchasing an additional 7,169 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Veeva Systems by 14.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock valued at $247,817,000 after buying an additional 137,965 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Veeva Systems by 180.2% during the fourth quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock valued at $44,900,000 after buying an additional 129,346 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on VEEV shares. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. The Goldman Sachs Group cut their price objective on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a report on Thursday, June 4th. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Piper Sandler lowered their target price on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Finally, Wells Fargo & Company raised their price target on shares of Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.74.

Veeva Systems Trading Down 0.9%

Shares of Veeva Systems stock opened at $195.62 on Friday. The business’s fifty day simple moving average is $171.66 and its 200 day simple moving average is $182.85. The firm has a market capitalization of $31.78 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 0.85 and a beta of 0.94. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month 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 for the quarter, topping the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm 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. Analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Veeva Systems Company 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.