Veeva Systems Inc. $VEEV Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 57.0% in the 1st quarter, HoldingsChannel reports. The fund owned 31,631 shares of the technology company’s stock after acquiring an additional 11,481 shares during the quarter. SG Americas Securities LLC’s holdings in Veeva Systems were worth $5,556,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Alliancebernstein L.P. increased its holdings in shares of Veeva Systems by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after purchasing an additional 235,983 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company’s stock worth $863,978,000 after buying an additional 23,416 shares in the last quarter. State Street Corp boosted its holdings in Veeva Systems by 2.4% during the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after buying an additional 85,695 shares in the last quarter. Geode Capital Management LLC grew its position in Veeva Systems by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock worth $706,442,000 after buying an additional 23,117 shares during the period. Finally, AQR Capital Management LLC grew its position in Veeva Systems by 31.2% during the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after buying an additional 574,164 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction on 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 in the company, 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 Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their target price on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Zacks Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Piper Sandler lowered their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Truist Financial reaffirmed a “buy” rating and issued a $262.00 price objective (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Finally, Canaccord Genuity Group reduced their price objective on Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $250.96.

Veeva Systems Price Performance

Veeva Systems stock opened at $171.28 on Monday. The stock has a market capitalization of $27.82 billion, a P/E ratio of 30.53, a P/E/G ratio of 0.74 and a beta of 0.95. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The firm’s 50-day moving average is $163.76 and its two-hundred day moving average is $186.05.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the prior year, the firm posted $1.97 earnings per share. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. 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, analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current 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.