Bank of Nova Scotia Has $1.96 Million Position in Veeva Systems Inc. $VEEV

Bank of Nova Scotia lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 83.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,129 shares of the technology company’s stock after selling 55,404 shares during the period. Bank of Nova Scotia’s holdings in Veeva Systems were worth $1,955,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 7.0% during the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock valued at $727,513,000 after buying an additional 271,252 shares in the last quarter. State Street Corp raised its position 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 valued at $801,267,000 after buying an additional 85,695 shares during the period. Geode Capital Management LLC lifted its stake in Veeva Systems by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock worth $706,442,000 after acquiring an additional 23,117 shares in the last quarter. AQR Capital Management LLC lifted its stake in Veeva Systems by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after acquiring an additional 574,164 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Veeva Systems by 12.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company’s stock worth $385,761,000 after acquiring an additional 189,093 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV opened at $207.82 on Thursday. The company has a market capitalization of $33.76 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 0.87 and a beta of 0.94. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The business has a 50-day moving average of $176.81 and a 200-day moving average of $180.51.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The company had revenue of $882.95 million during 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 business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, equities research analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore reaffirmed an “outperform” rating and set a $185.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Citigroup increased their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. BMO Capital Markets decreased their price target on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Oppenheimer reiterated an “outperform” rating on shares of Veeva Systems in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

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.