Handelsbanken Fonder AB Trims Holdings in Veeva Systems Inc. $VEEV

Handelsbanken Fonder AB lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 39.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 46,647 shares of the technology company’s stock after selling 30,650 shares during the quarter. Handelsbanken Fonder AB’s holdings in Veeva Systems were worth $8,278,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in VEEV. SHP Wealth Management bought a new position in shares of Veeva Systems during the fourth quarter valued at approximately $26,000. Activest Wealth Management boosted its holdings in Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares in the last quarter. Arlington Trust Co LLC bought a new stake in Veeva Systems in the second quarter valued at $29,000. MV Capital Management Inc. purchased a new position in Veeva Systems during the 4th quarter valued at $30,000. Finally, Reflection Asset Management bought a new position in Veeva Systems in the 4th quarter worth $32,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $253.17 on Friday. The company has a 50 day simple moving average of $188.55 and a two-hundred day simple moving average of $180.40. The company has a market capitalization of $41.12 billion, a price-to-earnings ratio of 45.13, a P/E/G ratio of 1.04 and a beta of 0.92. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $857.73 million. During the same period in the prior year, the firm posted $1.97 earnings per share. The company’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. On average, analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VEEV shares. Guggenheim initiated coverage on shares of Veeva Systems in a research note on Thursday, July 23rd. They set a “buy” rating and a $232.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. UBS Group lowered their price objective on shares of Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Barclays reduced their target price on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Finally, Piper Sandler decreased their target price on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. One equities research 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 assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.