SEB Asset Management AB Acquires New Position in Veeva Systems Inc. $VEEV

Key Points

• SEB Asset Management AB opened a new position in Veeva Systems during Q1, buying 255,970 shares worth about $44.96 million. The stake represented roughly 0.16% of the company.
• Veeva Systems reported better-than-expected quarterly results, with EPS of $2.24 versus $2.14 expected and revenue of $882.95 million versus $857.73 million forecast. Revenue rose 16.3% year over year.
• Analysts remain broadly constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $247.74. However, targets are mixed, with some firms raising estimates while others lowered theirs.

SEB Asset Management AB bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 255,970 shares of the technology company's stock, valued at approximately $44,964,000. SEB Asset Management AB owned about 0.16% of Veeva Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss National Bank boosted its holdings in shares of Veeva Systems by 7.4% during the first quarter. Swiss National Bank now owns 458,300 shares of the technology company's stock worth $80,505,000 after purchasing an additional 31,600 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in Veeva Systems by 5.7% in the first quarter. Mediolanum International Funds Ltd now owns 69,889 shares of the technology company's stock valued at $12,298,000 after purchasing an additional 3,770 shares during the last quarter. Aurora Investment Counsel acquired a new position in Veeva Systems in the first quarter valued at $1,964,000. Ceera Investments LLC lifted its position in Veeva Systems by 13.4% during the first quarter. Ceera Investments LLC now owns 20,781 shares of the technology company's stock worth $3,650,000 after buying an additional 2,454 shares during the period. Finally, Kera Capital Partners Inc. purchased a new position in Veeva Systems during the first quarter worth about $290,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 0.9%

VEEV stock opened at $195.62 on Friday. The company has a market cap of $31.78 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 0.84 and a beta of 0.94. The stock has a 50-day moving average price of $171.66 and a two-hundred day moving average price of $182.85. 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 released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.10. The company had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $1.97 EPS. 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 forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on VEEV. BNP Paribas Exane restated an "outperform" rating and issued a $285.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Oppenheimer reiterated an "outperform" rating and set a $225.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Wells Fargo & Company increased their price objective on shares of Veeva Systems from $317.00 to $320.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. BMO Capital Markets decreased their target price on shares of 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. Finally, Citigroup boosted their target price on shares of Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average price target of $247.74.

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

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company's stock, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a 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.

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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