ABN AMRO Bank N.V. Has $111.27 Million Stock Holdings in Veeva Systems Inc. $VEEV

Key Points

• ABN AMRO Bank N.V. reduced its Veeva Systems stake by 3.7% in the first quarter, but still held 627,571 shares worth about $111.27 million, making Veeva its 28th-largest holding.
• Wall Street sentiment remains mostly positive on Veeva Systems, with 18 Buy ratings, 7 Hold ratings, and 2 Sell ratings; the stock’s consensus price target is $250.96.
• Veeva posted better-than-expected quarterly results, reporting EPS of $2.24 on revenue of $882.95 million, both above analyst estimates, while revenue rose 16.3% year over year.

ABN AMRO Bank N.V. trimmed its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 627,571 shares of the technology company's stock after selling 24,110 shares during the quarter. Veeva Systems accounts for 1.2% of ABN AMRO Bank N.V.'s portfolio, making the stock its 28th largest holding. ABN AMRO Bank N.V. owned approximately 0.38% of Veeva Systems worth $111,273,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of VEEV. SHP Wealth Management bought a new stake in Veeva Systems during the fourth quarter worth about $26,000. Board of the Pension Protection Fund bought a new position in Veeva Systems in the 4th quarter valued at $27,000. Newbridge Financial Services Group Inc. boosted its stake in Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Activest Wealth Management boosted its stake in Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after purchasing an additional 127 shares in the last quarter. Finally, MV Capital Management Inc. bought a new stake in shares of Veeva Systems during the fourth quarter worth $30,000. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on VEEV shares. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Mizuho lowered their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Evercore reiterated an "outperform" rating and set a $185.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Wells Fargo & Company increased their price target on shares of Veeva Systems from $317.00 to $320.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $250.96.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $171.28 on Friday. The stock has a market cap of $27.82 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 0.74 and a beta of 0.95. The company has a 50 day moving average of $163.76 and a 200-day moving average of $186.42. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data 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 period in the prior year, the business posted $1.97 earnings per share. Veeva Systems's revenue was up 16.3% compared to the same quarter last year. 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 anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the business's 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 completion of the transaction, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

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.

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