KBC Group NV Has $7.21 Million Stock Position in Veeva Systems Inc. $VEEV

Key Points

• KBC Group NV sharply reduced its Veeva Systems stake in the first quarter, cutting holdings by 79.6% and selling 160,083 shares. It ended the quarter with 41,057 shares valued at about $7.21 million.
• Veeva Systems reported strong quarterly results, posting EPS of $2.24 versus the $2.14 consensus and revenue of $882.95 million, up 16.3% year over year. The company also issued FY 2027 and Q2 2027 guidance.
• Analysts remain generally constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $247.74. However, some firms trimmed targets after the earnings report, reflecting mixed short-term sentiment.

KBC Group NV cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 79.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,057 shares of the technology company's stock after selling 160,083 shares during the quarter. KBC Group NV's holdings in Veeva Systems were worth $7,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Williams Jones Wealth Management LLC. grew its position in Veeva Systems by 0.4% in the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock worth $2,806,000 after purchasing an additional 40 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in shares of Veeva Systems by 4.3% in the fourth quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company's stock valued at $271,000 after buying an additional 50 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of Veeva Systems by 0.7% in the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock valued at $1,982,000 after buying an additional 51 shares during the period. Brown Brothers Harriman & Co. grew its position in Veeva Systems by 8.1% during the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock worth $214,000 after buying an additional 54 shares in the last quarter. Finally, Northwest Wealth Management LLC grew its position in Veeva Systems by 6.1% during the fourth quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company's stock worth $213,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Price Performance

Shares of VEEV opened at $184.29 on Thursday. The company has a market capitalization of $29.94 billion, a P/E ratio of 32.85, a PEG ratio of 0.81 and a beta of 0.94. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The business's 50 day simple moving average is $173.59 and its 200-day simple moving average is $181.85.

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 for the quarter, beating analysts' consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million during the quarter, compared to analysts' expectations of $857.73 million. During the same period last year, the firm posted $1.97 EPS. The business'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, sell-side analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

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. Corporate insiders own 10.60% of the company's stock.

Analyst Ratings Changes

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

Several equities analysts have commented on VEEV shares. Oppenheimer reaffirmed an "outperform" rating on shares of Veeva Systems in a report on Monday. Stifel Nicolaus decreased their price objective on Veeva Systems from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Thursday, June 4th. BMO Capital Markets lowered their price objective on Veeva Systems from $220.00 to $175.00 and set a "market perform" rating on the stock in a research report on Thursday, June 4th. BNP Paribas Exane restated an "outperform" rating and issued a $285.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Weiss Ratings raised Veeva Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, July 10th. Eighteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $247.74.

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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