Amundi Grows Stock Position in Veeva Systems Inc. $VEEV

Key Points

• Amundi increased its Veeva Systems stake by 8.0% in the first quarter, adding 73,510 shares for a total of 992,977 shares valued at approximately $174.4 million. Institutional investors collectively own 88.2% of Veeva’s stock.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $247.08, although Goldman Sachs and Piper Sandler recently lowered their targets.
• Veeva exceeded quarterly expectations, reporting $2.24 in EPS and $882.95 million in revenue, with revenue up 16.3% year over year. The stock opened at $202.06, versus a 52-week range of $148.05 to $310.50.

Amundi raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 8.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 992,977 shares of the technology company's stock after acquiring an additional 73,510 shares during the quarter. Amundi owned approximately 0.61% of Veeva Systems worth $174,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Williams Jones Wealth Management LLC. raised its holdings in shares of Veeva Systems by 0.4% in the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock worth $2,806,000 after acquiring an additional 40 shares during the last quarter. Personal CFO Solutions LLC boosted its stake in shares of Veeva Systems by 4.3% during the fourth quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company's stock valued at $271,000 after acquiring an additional 50 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Veeva Systems by 0.7% during the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock valued at $1,982,000 after acquiring an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Veeva Systems by 8.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock worth $214,000 after purchasing an additional 54 shares in the last quarter. Finally, Main Management ETF Advisors LLC raised its stake in Veeva Systems by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company's stock valued at $1,224,000 after purchasing an additional 56 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VEEV has been the topic of several analyst reports. The Goldman Sachs Group decreased their price target on shares of Veeva Systems from $190.00 to $165.00 and set a "sell" rating on the stock in a research note on Thursday, June 4th. Oppenheimer reissued an "outperform" rating on shares of Veeva Systems in a research note on Monday, July 20th. Piper Sandler decreased their target price on shares of Veeva Systems from $285.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday, June 4th. Wells Fargo & Company lifted their target price 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. Finally, Citigroup increased their price target on Veeva Systems from $176.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. 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 given a Sell rating to the company. According to data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and an average target price of $247.08.

Veeva Systems Price Performance

NYSE VEEV opened at $202.06 on Friday. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The firm has a market capitalization of $32.82 billion, a P/E ratio of 36.02, a P/E/G ratio of 0.89 and a beta of 0.94. The business's 50-day simple moving average is $177.69 and its 200-day simple moving average is $180.24.

• Veeva Systems NYSE: VEEV Stock a Buy: Cloud Software for Life Sciences

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the prior year, the company earned $1.97 EPS. The company's 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, equities research analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

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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