SG Americas Securities LLC Raises Stake in Veeva Systems Inc. $VEEV

SG Americas Securities LLC raised its position in Veeva Systems Inc. (NYSE:VEEV) by 120.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,150 shares of the technology company’s stock after purchasing an additional 11,030 shares during the period. SG Americas Securities LLC’s holdings in Veeva Systems were worth $4,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. GPS Wealth Strategies Group LLC increased its holdings in Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after buying an additional 55 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in Veeva Systems in the fourth quarter valued at $27,000. Raiffeisen Bank International AG purchased a new stake in Veeva Systems during the 3rd quarter worth about $28,000. OLD Second National Bank of Aurora acquired a new position in shares of Veeva Systems during the 3rd quarter worth about $30,000. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Veeva Systems by 58.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock worth $38,000 after acquiring an additional 49 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.6%

VEEV opened at $172.81 on Thursday. The firm has a market cap of $28.23 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. Veeva Systems Inc. has a 52 week low of $168.13 and a 52 week high of $310.50. The business’s 50 day moving average is $187.52 and its two-hundred day moving average is $235.01.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The company’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Equities analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems declared that its Board of Directors has initiated a stock buyback plan on Monday, January 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VEEV shares. Oppenheimer cut their target price on Veeva Systems from $325.00 to $275.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Citigroup lowered their price target on Veeva Systems from $319.00 to $291.00 and set a “buy” rating for the company in a report on Monday, March 9th. Weiss Ratings cut shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Royal Bank Of Canada reduced their price objective on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Finally, Wells Fargo & Company lowered their target price on shares of Veeva Systems from $333.00 to $317.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $283.70.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the transaction, the insider directly owned 23,204 shares in the company, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 10.30% of the company’s stock.

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.