Candriam S.C.A. Grows Holdings in Veeva Systems Inc. $VEEV

Key Points

• Candriam S.C.A. increased its Veeva Systems stake by 3.3% in the first quarter, adding 8,109 shares to bring its total to 257,459 shares worth about $45.2 million.
• Other institutional investors also boosted positions, and hedge funds plus institutions now own 88.2% of Veeva’s stock, showing continued strong institutional interest.
• Veeva reported stronger-than-expected quarterly results, with $2.24 EPS and $882.95 million in revenue, while analysts maintained a Moderate Buy consensus with a $250.96 price target.

Candriam S.C.A. lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,459 shares of the technology company's stock after buying an additional 8,109 shares during the quarter. Candriam S.C.A. owned approximately 0.16% of Veeva Systems worth $45,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sivia Capital Partners LLC lifted its stake in shares of Veeva Systems by 225.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company's stock worth $899,000 after purchasing an additional 2,164 shares during the period. Bank of Nova Scotia lifted its position in Veeva Systems by 44.5% during the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company's stock worth $1,689,000 after buying an additional 1,806 shares during the period. NewEdge Advisors LLC boosted its stake in Veeva Systems by 34.6% in the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company's stock worth $2,543,000 after buying an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Veeva Systems by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company's stock valued at $19,856,000 after buying an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC increased its stake in shares of Veeva Systems by 5.3% during the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company's stock valued at $3,140,000 after acquiring an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VEEV shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $275.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Wells Fargo & Company lifted their price target on shares of Veeva Systems from $317.00 to $320.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. The Goldman Sachs Group dropped their price objective on Veeva Systems from $190.00 to $165.00 and set a "sell" rating for the company in a report on Thursday, June 4th. Citigroup boosted their price target on Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Finally, Mizuho cut their price objective on Veeva Systems from $295.00 to $270.00 and set an "outperform" rating on the stock in a report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $250.96.

Veeva Systems Price Performance

NYSE:VEEV opened at $190.27 on Friday. The business's 50-day moving average is $168.68 and its two-hundred day moving average is $183.83. The firm has a market capitalization of $30.91 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same period last year, the business posted $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. Equities analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current year.

Insiders Place Their Bets

In other news, Director Priscilla Hung sold 750 shares of the firm'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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by 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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