Calamos Advisors LLC Makes New $3.33 Million Investment in Veeva Systems Inc. $VEEV

Key Points

• Calamos Advisors LLC disclosed a new position in Veeva Systems, buying 18,930 shares valued at about $3.33 million in the first quarter.
• Institutional interest in Veeva remains strong, with hedge funds and other investors making several recent moves and 88.2% of the stock currently held by institutions.
• Veeva reported better-than-expected quarterly results, posting $2.24 EPS on $882.95 million in revenue, while analysts’ views remain mixed but lean bullish with a consensus Moderate Buy rating.

Calamos Advisors LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,930 shares of the technology company's stock, valued at approximately $3,325,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in VEEV. Legacy Capital Group California Inc. acquired a new stake in Veeva Systems during the 1st quarter valued at $730,000. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 7.0% in the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company's stock valued at $727,513,000 after purchasing an additional 271,252 shares during the period. First Growth Capital LLC bought a new position in shares of Veeva Systems in the first quarter valued at about $471,000. Chicago Partners Investment Group LLC lifted its stake in shares of Veeva Systems by 107.9% during the 1st quarter. Chicago Partners Investment Group LLC now owns 2,813 shares of the technology company's stock worth $461,000 after buying an additional 1,460 shares during the last quarter. Finally, AMF Tjanstepension AB acquired a new stake in shares of Veeva Systems during the 1st quarter worth about $1,989,000. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on VEEV shares. UBS Group cut their price objective on shares of Veeva Systems from $220.00 to $190.00 and set a "neutral" rating for the company in a research report on Thursday, June 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $275.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Piper Sandler lowered their target price on Veeva Systems from $285.00 to $235.00 and set an "overweight" rating on the stock in a research note on Thursday, June 4th. Evercore reissued an "outperform" rating and set a $185.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Canaccord Genuity Group reduced their price target on Veeva Systems from $235.00 to $220.00 and set a "hold" rating for the company in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average price target of $247.74.

Veeva Systems Trading Up 0.3%

Shares of VEEV stock opened at $193.71 on Thursday. The stock has a market cap of $31.47 billion, a P/E ratio of 34.53, a price-to-earnings-growth ratio of 0.83 and a beta of 0.94. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a 50 day simple moving average of $170.48 and a 200 day simple moving average of $182.95.

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

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company's revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the company earned $1.97 EPS. 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. Analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company's stock, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.

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