Lazard Asset Management LLC Grows Stock Holdings in Veeva Systems Inc. $VEEV

Lazard Asset Management LLC grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 24.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,841 shares of the technology company’s stock after purchasing an additional 6,205 shares during the quarter. Lazard Asset Management LLC’s holdings in Veeva Systems were worth $5,593,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in VEEV. SHP Wealth Management purchased a new position in Veeva Systems during the fourth quarter worth about $26,000. Newbridge Financial Services Group Inc. grew its holdings in 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 buying an additional 100 shares during the period. Activest Wealth Management increased its stake in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $30,000. Finally, Reflection Asset Management purchased a new position in shares of Veeva Systems during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Down 2.8%

Shares of VEEV stock opened at $202.06 on Friday. The company’s fifty day simple moving average is $177.69 and its 200-day simple moving average is $180.24. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The company has a market cap of $32.82 billion, a PE ratio of 36.02, a P/E/G ratio of 0.89 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last posted its 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. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the previous year, the business posted $1.97 EPS. The business’s quarterly 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. Equities research analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VEEV has been the topic of several research analyst reports. Canaccord Genuity Group decreased their target price on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Wells Fargo & Company increased their price target on shares of Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. BMO Capital Markets lowered their price objective on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. Weiss Ratings upgraded Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Guggenheim began coverage on Veeva Systems in a research report on Thursday, July 23rd. They issued a “buy” rating and a $232.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $247.08.

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.