Veeva Systems Inc. $VEEV Stock Position Reduced by Y.D. More Investments Ltd

Y.D. More Investments Ltd lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 29.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 10,111 shares of the technology company’s stock after selling 4,305 shares during the quarter. Y.D. More Investments Ltd’s holdings in Veeva Systems were worth $1,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC raised its holdings in shares of Veeva Systems by 225.9% during the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock worth $899,000 after acquiring an additional 2,164 shares in the last quarter. Bank of Nova Scotia boosted its position in Veeva Systems by 44.5% during the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after purchasing an additional 1,806 shares during the last quarter. NewEdge Advisors LLC grew its stake in Veeva Systems by 34.6% in the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock valued at $2,543,000 after purchasing an additional 2,272 shares in the last quarter. Treasurer of the State of North Carolina increased its position in Veeva Systems by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock worth $19,856,000 after purchasing an additional 1,452 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its position in Veeva Systems by 5.3% in the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock worth $3,140,000 after purchasing an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $190.27 on Monday. 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 $168.68 and a two-hundred day moving average of $183.56. The stock has a market capitalization of $30.91 billion, a P/E ratio of 33.92, a P/E/G ratio of 0.82 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the prior year, the firm posted $1.97 EPS. The firm’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. As a group, research analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BTIG Research reaffirmed a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Stifel Nicolaus cut their price objective on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, June 4th. BMO Capital Markets reduced their target price on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. Finally, Zacks Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Eighteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $250.96.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

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.