Cetera Investment Advisers Trims Position in Veeva Systems Inc. $VEEV

Cetera Investment Advisers trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 14.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,329 shares of the technology company’s stock after selling 12,179 shares during the period. Cetera Investment Advisers’ holdings in Veeva Systems were worth $12,530,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its position in Veeva Systems by 11.3% during the fourth 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 period. Empire Life Investments Inc. boosted its holdings in 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 during the last quarter. Farther Finance Advisors LLC grew its position in Veeva Systems by 217.2% during the 4th quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock worth $2,337,000 after purchasing an additional 7,169 shares during the period. Pictet Asset Management Holding SA grew its position in Veeva Systems by 14.2% during 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 purchasing an additional 137,965 shares during the period. Finally, KBC Group NV raised its stake in shares of Veeva Systems by 180.2% during the 4th 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. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Veeva Systems stock opened at $207.82 on Thursday. The company’s fifty day moving average price is $176.81 and its 200 day moving average price is $180.51. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a market capitalization of $33.76 billion, a P/E ratio of 37.04, a P/E/G ratio of 0.87 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VEEV. Canaccord Genuity Group decreased their price objective on Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Mizuho dropped their target price on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Guggenheim assumed coverage on Veeva Systems in a research report on Thursday, July 23rd. They set a “buy” rating and a $232.00 price target for the company. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Piper Sandler decreased their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

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.