Hsbc Holdings PLC Increases Stock Position in Veeva Systems Inc. $VEEV

Hsbc Holdings PLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 25.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 198,902 shares of the technology company’s stock after buying an additional 39,983 shares during the quarter. Hsbc Holdings PLC’s holdings in Veeva Systems were worth $44,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. boosted its holdings in Veeva Systems by 4.1% in the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after acquiring an additional 235,983 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Veeva Systems by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company’s stock worth $863,978,000 after purchasing an additional 23,416 shares during the period. State Street Corp raised its holdings in shares of Veeva Systems by 2.4% in the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after purchasing an additional 85,695 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 valued at $706,442,000 after purchasing an additional 23,117 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of 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 valued at $706,078,000 after purchasing an additional 574,164 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 transaction of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 firms recently issued reports on VEEV. Raymond James Financial reissued an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. BTIG Research reaffirmed a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Barclays decreased their price objective on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Morgan Stanley raised their target price on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.96.

Veeva Systems Stock Performance

VEEV stock opened at $159.57 on Wednesday. The firm has a market cap of $25.92 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a 50-day simple moving average of $163.64 and a 200-day simple moving average of $187.69.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same period in the previous year, the company posted $1.97 EPS. Veeva Systems’s revenue for the quarter was up 16.3% on a year-over-year basis. 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 predict that Veeva Systems Inc. will post 6.65 EPS for the current year.

Veeva Systems Company 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.