E. Ohman J or Asset Management AB Has $26.39 Million Stock Position in Veeva Systems Inc. $VEEV

Key Points

• E. Ohman J or Asset Management AB cut its Veeva Systems stake by 5.5% in the first quarter, selling 8,765 shares and ending with 150,224 shares worth about $26.39 million.
• Veeva Systems recently reported better-than-expected quarterly results, with EPS of $2.24 versus $2.14 expected and revenue of $882.95 million, up 16.3% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $250.96, despite some recent target cuts.

E. Ohman J or Asset Management AB reduced its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150,224 shares of the technology company's stock after selling 8,765 shares during the period. E. Ohman J or Asset Management AB owned approximately 0.09% of Veeva Systems worth $26,388,000 as of its most recent filing with the Securities and Exchange Commission.

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

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $153.20 on Friday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The firm has a market cap of $24.89 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. The business has a fifty day moving average of $163.55 and a 200-day moving average of $189.23.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to analysts' expectations of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.97 earnings per share. 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, analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VEEV shares. BNP Paribas Exane reiterated an "outperform" rating and set a $285.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Morgan Stanley boosted their price target on shares of Veeva Systems from $205.00 to $215.00 and gave the company an "equal weight" rating in a research report on Thursday, March 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $275.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Barclays decreased their price objective on shares of Veeva Systems from $250.00 to $235.00 and set an "overweight" rating on the stock in a research note on Thursday, June 4th. Finally, Canaccord Genuity Group dropped their price objective on shares of Veeva Systems from $235.00 to $220.00 and set a "hold" rating for the company in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and an average target price of $250.96.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business'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 completion of the transaction, the director directly owned 3,253 shares of the company's stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.