KBC Group NV Has $7.21 Million Stock Holdings in Veeva Systems Inc. $VEEV

KBC Group NV decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 79.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,057 shares of the technology company’s stock after selling 160,083 shares during the period. KBC Group NV’s holdings in Veeva Systems were worth $7,212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SHP Wealth Management bought a new stake in Veeva Systems during the 4th quarter worth about $26,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Veeva Systems by 322.6% in the 4th 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 during the last quarter. Activest Wealth Management boosted its stake in shares of Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 127 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $30,000. Finally, Reflection Asset Management acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on VEEV. Stifel Nicolaus cut their price objective on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, June 4th. Wall Street Zen lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. BMO Capital Markets dropped their target price on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research report on Thursday, June 4th. Canaccord Genuity Group cut their price target on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $275.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.74.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The transaction 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 company insiders.

Veeva Systems Trading Down 2.6%

Shares of Veeva Systems stock opened at $184.29 on Thursday. The company has a market capitalization of $29.94 billion, a PE ratio of 32.85, a PEG ratio of 0.81 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. The stock’s fifty day simple moving average is $173.59 and its 200 day simple moving average is $181.85.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. During the same period in the previous year, the firm earned $1.97 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. 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.

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.