Y Intercept Hong Kong Ltd Boosts Stake in Veeva Systems Inc. $VEEV

Y Intercept Hong Kong Ltd raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 165.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,804 shares of the technology company’s stock after buying an additional 32,907 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Veeva Systems were worth $11,787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VEEV. Board of the Pension Protection Fund purchased a new position in Veeva Systems during the fourth quarter worth about $27,000. Raiffeisen Bank International AG bought a new stake in Veeva Systems during the third quarter worth about $28,000. Newbridge Financial Services Group Inc. lifted its stake in Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Activest Wealth Management lifted its stake in Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 127 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new stake in Veeva Systems during the fourth quarter worth about $33,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Veeva Systems Trading Down 1.3%

NYSE VEEV opened at $159.44 on Friday. 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 moving average of $165.06 and a 200-day moving average of $192.11. The firm has a market cap of $25.90 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 0.69 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share 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 company had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same quarter 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. As a group, equities research analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

VEEV has been the subject of several research analyst reports. Stifel Nicolaus dropped their price target on Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, June 4th. Morgan Stanley lifted their price target on Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Mizuho dropped their price target on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. JPMorgan Chase & Co. dropped their price target on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

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.