Veeva Systems Inc. $VEEV Stock Holdings Lifted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 29.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,851 shares of the technology company’s stock after acquiring an additional 5,175 shares during the period. Daiwa Securities Group Inc.’s holdings in Veeva Systems were worth $5,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Norges Bank purchased a new position in Veeva Systems during the fourth quarter valued at approximately $332,412,000. Durable Capital Partners LP purchased a new position in Veeva Systems during the second quarter valued at approximately $281,351,000. 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 valued at $706,078,000 after purchasing an additional 574,164 shares in the last quarter. Vanguard Group Inc. grew its position in Veeva Systems by 3.1% during the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after purchasing an additional 457,806 shares in the last quarter. Finally, Jensen Investment Management Inc. grew its position in Veeva Systems by 1,924.5% during the third quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock valued at $123,100,000 after purchasing an additional 392,802 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Down 3.1%

NYSE VEEV opened at $167.33 on Tuesday. The stock has a market capitalization of $27.33 billion, a PE 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 two-hundred 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 posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. The firm 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 13.89%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company 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. As a group, equities analysts anticipate that Veeva Systems Inc. will post 6.46 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Evercore reaffirmed an “outperform” rating and set a $185.00 price objective on shares of Veeva Systems in a research report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Truist Financial reaffirmed a “buy” rating and set a $262.00 price objective (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Barclays lowered their price objective on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group reduced their target price on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a research note on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.96.

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.