Smith Group Asset Management LLC Has $18.87 Million Stock Position in Veeva Systems Inc. $VEEV

Smith Group Asset Management LLC boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 107,445 shares of the technology company’s stock after purchasing an additional 7,398 shares during the quarter. Smith Group Asset Management LLC owned about 0.07% of Veeva Systems worth $18,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in VEEV. SHP Wealth Management bought a new stake in shares of Veeva Systems during the fourth quarter worth approximately $26,000. Newbridge Financial Services Group Inc. lifted its holdings in Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 100 shares during the period. Activest Wealth Management boosted its stake in Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares during the last quarter. MV Capital Management Inc. acquired a new stake in Veeva Systems during the 4th quarter worth $30,000. Finally, Reflection Asset Management acquired a new stake in Veeva Systems during the 4th quarter worth $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Veeva Systems Stock Up 3.6%

Shares of NYSE VEEV opened at $201.54 on Wednesday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The stock has a market cap of $32.74 billion, a price-to-earnings ratio of 35.92, a P/E/G ratio of 0.84 and a beta of 0.94. The company’s fifty day moving average is $175.96 and its 200-day moving average is $180.75.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 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 net margin of 28.37% and a return on equity of 13.72%. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $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. On average, research analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on VEEV shares. BNP Paribas Exane reissued an “outperform” rating and issued a $285.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. BMO Capital Markets decreased their price objective on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. Guggenheim initiated coverage on Veeva Systems in a research note on Thursday, July 23rd. They issued a “buy” rating and a $232.00 target price on the stock. Evercore restated an “outperform” rating and set a $185.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $275.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $247.08.

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.