GAMMA Investing LLC Has $1 Million Stock Holdings in Veeva Systems Inc. $VEEV

GAMMA Investing LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 131.5% in the second quarter, Holdings Channel reports. The firm owned 5,632 shares of the technology company’s stock after acquiring an additional 3,199 shares during the quarter. GAMMA Investing LLC’s holdings in Veeva Systems were worth $1,000,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Veeva Systems during the 4th quarter worth approximately $332,412,000. Durable Capital Partners LP acquired a new position in Veeva Systems during the second quarter worth $281,351,000. Arrowstreet Capital Limited Partnership raised its position in Veeva Systems by 203.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after acquiring an additional 611,868 shares in the last quarter. AQR Capital Management LLC raised 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 acquiring an additional 574,164 shares in the last quarter. Finally, Swedbank AB lifted its stake in Veeva Systems by 43.5% in the first quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock valued at $288,983,000 after acquiring an additional 498,971 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 5.6%

Shares of NYSE:VEEV opened at $229.93 on Friday. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The company’s 50 day moving average price is $183.83 and its two-hundred day moving average price is $180.11. The firm has a market cap of $37.35 billion, a PE ratio of 40.99, a PEG ratio of 0.94 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results 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. The business 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 firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company 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. On average, research analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VEEV. Oppenheimer reissued an “outperform” rating on shares of Veeva Systems in a research report on Monday, July 20th. Evercore reaffirmed an “outperform” rating and issued a $185.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Wells Fargo & Company raised their target price on shares of Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Robert W. Baird boosted their price target on Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. One 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 given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.