Veeva Systems Inc. $VEEV Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 25.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,902 shares of the technology company’s stock after buying an additional 39,983 shares during the period. Hsbc Holdings PLC owned about 0.12% of Veeva Systems worth $44,481,000 as of its most recent SEC filing.

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VEEV shares. Piper Sandler dropped their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Mizuho decreased their price objective on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. UBS Group dropped their price objective on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. TD Cowen restated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Evercore reaffirmed an “outperform” rating and set a $185.00 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

Veeva Systems Stock Up 4.2%

VEEV stock opened at $159.57 on Wednesday. The stock has a market capitalization of $25.92 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The stock’s fifty day simple moving average is $163.64 and its 200-day simple moving average is $187.69.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $857.73 million. During the same period in the prior year, the firm posted $1.97 earnings per share. The business’s quarterly revenue 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. As a group, analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal 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.