Hsbc Holdings PLC Buys 39,983 Shares of Veeva Systems Inc. $VEEV

Hsbc Holdings PLC boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 25.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,902 shares of the technology company’s stock after buying an additional 39,983 shares during the period. Hsbc Holdings PLC’s holdings in Veeva Systems were worth $44,481,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Veeva Systems in the 4th quarter worth approximately $332,412,000. Durable Capital Partners LP bought a new position in Veeva Systems in the second quarter worth $281,351,000. AQR Capital Management LLC lifted 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 buying an additional 574,164 shares during the period. Greenoaks Capital Partners LLC grew its position in shares of Veeva Systems by 198.2% in the 4th quarter. Greenoaks Capital Partners LLC now owns 694,926 shares of the technology company’s stock worth $155,128,000 after buying an additional 461,908 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Veeva Systems by 10,109.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 356,920 shares of the technology company’s stock worth $79,675,000 after acquiring an additional 353,424 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Mizuho decreased their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Robert W. Baird upped their price objective on Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Stifel Nicolaus cut their target price on Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. Finally, Weiss Ratings cut Veeva Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 25th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $250.96.

Veeva Systems Stock Down 0.2%

Shares of Veeva Systems stock opened at $192.40 on Monday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The company’s 50 day moving average is $165.52 and its 200 day moving average is $184.58. The company has a market cap of $31.25 billion, a price-to-earnings ratio of 34.30, a price-to-earnings-growth ratio of 0.83 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last posted 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 company had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. During the same quarter in the prior year, the business earned $1.97 earnings per share. Veeva Systems’s revenue for the quarter was up 16.3% compared to the same quarter last year. 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. Sell-side analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the business’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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 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.