ING Groep NV Invests $5.69 Million in Veeva Systems Inc. $VEEV

ING Groep NV acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, Holdings Channel.com reports. The fund acquired 25,500 shares of the technology company’s stock, valued at approximately $5,692,000.

Other hedge funds also recently made changes to their positions in the company. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems during the 4th quarter worth $27,000. Raiffeisen Bank International AG bought a new stake in shares of Veeva Systems during the 3rd quarter worth $28,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Activest Wealth Management lifted its holdings in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Veeva Systems during the 4th quarter worth $33,000. 88.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Truist Financial reissued a “buy” rating and issued a $262.00 price target (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Stifel Nicolaus lowered their price target on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday. Eighteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $250.96.

Veeva Systems Trading Down 3.1%

Shares of NYSE:VEEV opened at $167.33 on Tuesday. The company has a market cap of $27.33 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95. The company has a 50-day moving average price of $165.94 and a 200-day moving average price of $194.42. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.89%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $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, research analysts forecast that Veeva Systems Inc. will post 6.46 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction 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. This represents 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. Company insiders own 10.60% of the company’s stock.

Veeva Systems Company 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.