Oddo BHF Asset Management Sas Has $1.85 Million Stake in Veeva Systems Inc. $VEEV

Key Points

• Oddo BHF Asset Management cut its Veeva Systems stake by 52.7% in the first quarter, selling 11,753 shares and retaining 10,538 shares valued at approximately $1.85 million.
• Institutional investors and hedge funds own 88.2% of Veeva’s stock, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $247.08.
• Veeva exceeded quarterly expectations, reporting $2.24 in EPS and $882.95 million in revenue, with revenue up 16.3% year over year.

Oddo BHF Asset Management Sas reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 52.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,538 shares of the technology company's stock after selling 11,753 shares during the quarter. Oddo BHF Asset Management Sas' holdings in Veeva Systems were worth $1,851,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BMO Capital Markets dropped their price objective on Veeva Systems from $220.00 to $175.00 and set a "market perform" rating for the company in a report on Thursday, June 4th. Mizuho reduced their target price on shares of Veeva Systems from $295.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. BNP Paribas Exane reiterated an "outperform" rating and set a $285.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Evercore reissued an "outperform" rating and set a $185.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Sunday, July 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and an average price target of $247.08.

Veeva Systems Trading Down 2.8%

NYSE VEEV opened at $202.06 on Friday. The stock has a 50-day simple moving average of $177.69 and a 200 day simple moving average of $180.24. The company has a market capitalization of $32.82 billion, a PE ratio of 36.02, a P/E/G ratio of 0.89 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 Stock a Buy: Cloud Software for Life Sciences

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (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 analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the business 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. As a group, sell-side analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

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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