Generali Investments Management Co LLC Decreases Stock Position in Veeva Systems Inc. $VEEV

Key Points

• Generali Investments Management reduced its Veeva Systems position by 72.1% in the second quarter, selling 16,903 shares and retaining 6,530 shares valued at approximately $1.16 million.
• Institutional investors own 88.2% of Veeva’s stock, while several smaller investment firms established or increased positions during recent quarters.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $247.08. Veeva recently beat quarterly earnings and revenue estimates, reporting $2.24 in EPS and $882.95 million in revenue.

Generali Investments Management Co LLC lessened its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 72.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,530 shares of the technology company's stock after selling 16,903 shares during the quarter. Generali Investments Management Co LLC's holdings in Veeva Systems were worth $1,159,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. SHP Wealth Management purchased a new position in shares of Veeva Systems in the 4th quarter valued at approximately $26,000. Activest Wealth Management boosted 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 purchasing an additional 127 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in Veeva Systems during the 2nd quarter worth approximately $29,000. MV Capital Management Inc. purchased a new stake in Veeva Systems during the 4th quarter worth approximately $30,000. Finally, Reflection Asset Management acquired a new position in Veeva Systems during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analysts Set New Price Targets

VEEV has been the subject of a number of research analyst reports. Guggenheim initiated coverage on shares of Veeva Systems in a report on Thursday, July 23rd. They issued a "buy" rating and a $232.00 price target for the company. BTIG Research reissued a "buy" rating and set a $340.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. TD Cowen reissued a "buy" rating on shares of Veeva Systems in a research report on Thursday, June 4th. Piper Sandler reduced their target price on Veeva Systems from $285.00 to $235.00 and set an "overweight" rating for the company in a research note on Thursday, June 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. One equities research 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 assigned a Sell rating to the company. According to MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average target price of $247.08.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $234.27 on Tuesday. The company has a market capitalization of $38.05 billion, a PE ratio of 41.76, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. The company's fifty day moving average price is $184.73 and its 200 day moving average price is $179.95. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

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

About Veeva Systems

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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