ABN AMRO Bank N.V. Trims Stake in Veeva Systems Inc. $VEEV

Key Points

• ABN AMRO Bank cut its Veeva Systems stake by 21.5% in the fourth quarter, selling 178,963 shares and leaving it with 651,681 shares valued at about $145.2 million.
• Veeva’s latest earnings beat expectations, with quarterly EPS of $2.06 versus the $1.94 estimate and revenue of $835.95 million, up 16% year over year.
• Wall Street remains cautiously positive: analysts lowered several price targets, but the consensus rating is still “Moderate Buy” with a target price of $278.70.

ABN AMRO Bank N.V. lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 651,681 shares of the technology company's stock after selling 178,963 shares during the quarter. Veeva Systems comprises about 1.4% of ABN AMRO Bank N.V.'s portfolio, making the stock its 26th largest position. ABN AMRO Bank N.V. owned 0.40% of Veeva Systems worth $145,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VEEV. GPS Wealth Strategies Group LLC raised its stake in shares of Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company's stock valued at $25,000 after acquiring an additional 55 shares during the period. Board of the Pension Protection Fund purchased a new position in Veeva Systems in the 4th quarter worth about $27,000. Raiffeisen Bank International AG purchased a new position in Veeva Systems in the 3rd quarter worth about $28,000. Newbridge Financial Services Group Inc. increased its stake 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 worth $29,000 after buying an additional 100 shares during the period. Finally, Activest Wealth Management increased its stake in Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Needham & Company LLC reduced their price target on shares of Veeva Systems from $355.00 to $270.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Canaccord Genuity Group reduced their price target on shares of Veeva Systems from $280.00 to $235.00 and set a "hold" rating on the stock in a research note on Thursday, March 5th. Morgan Stanley raised their price target on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 5th. Oppenheimer reduced their price target on shares of Veeva Systems from $325.00 to $275.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Veeva Systems from $330.00 to $296.00 and set an "overweight" rating on the stock in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $278.70.

Veeva Systems Stock Performance

NYSE:VEEV opened at $166.21 on Monday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The stock has a market capitalization of $27.15 billion, a P/E ratio of 30.72, a P/E/G ratio of 0.74 and a beta of 0.92. The company's 50-day simple moving average is $174.27 and its 200-day simple moving average is $213.74.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business had revenue of $835.95 million for the quarter, compared to analysts' expectations of $810.95 million. During the same period last year, the business earned $1.74 EPS. The company's revenue was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, research analysts forecast that Veeva Systems Inc. will post 6.41 EPS for the current year.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred 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 directly owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company 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.

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