Assenagon Asset Management S.A. Increases Position in Veeva Systems Inc. $VEEV

Assenagon Asset Management S.A. raised its position in Veeva Systems Inc. (NYSE:VEEV) by 208.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 348,719 shares of the technology company’s stock after purchasing an additional 235,839 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Veeva Systems were worth $61,256,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in VEEV. Cornell Pochily Investment Advisors Inc. boosted its position in shares of Veeva Systems by 5.3% during the first quarter. Cornell Pochily Investment Advisors Inc. now owns 2,828 shares of the technology company’s stock worth $497,000 after buying an additional 143 shares during the period. SG Americas Securities LLC lifted its stake in Veeva Systems by 57.0% during the 1st quarter. SG Americas Securities LLC now owns 31,631 shares of the technology company’s stock worth $5,556,000 after acquiring an additional 11,481 shares in the last quarter. IVC Wealth Advisors LLC acquired a new position in Veeva Systems during the 1st quarter worth about $254,000. Diversified Trust Co grew its position in Veeva Systems by 32.2% in the 1st quarter. Diversified Trust Co now owns 16,656 shares of the technology company’s stock valued at $2,926,000 after acquiring an additional 4,061 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Veeva Systems by 25.2% in the 4th quarter. Hsbc Holdings PLC now owns 198,902 shares of the technology company’s stock valued at $44,481,000 after acquiring an additional 39,983 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.9%

NYSE:VEEV opened at $158.31 on Friday. The stock’s 50 day moving average price is $163.68 and its 200 day moving average price is $186.53. The company has a market capitalization of $25.72 billion, a PE ratio of 28.22, a P/E/G ratio of 0.69 and a beta of 0.95. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. The company had revenue of $882.95 million during 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 firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business 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. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VEEV shares. Canaccord Genuity Group decreased their target price on Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Piper Sandler reduced their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Barclays reduced their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Wells Fargo & Company boosted their price objective on Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Finally, BTIG Research reissued a “buy” rating and set a $340.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $250.96.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director owned 3,253 shares in the company, valued at $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

Veeva Systems 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.