HB Wealth Management LLC Sells 5,556 Shares of Veeva Systems Inc. $VEEV

HB Wealth Management LLC decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 30.5% in the first quarter, Holdings Channel reports. The firm owned 12,653 shares of the technology company’s stock after selling 5,556 shares during the period. HB Wealth Management LLC’s holdings in Veeva Systems were worth $2,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Veeva Systems during the 4th quarter worth $332,412,000. Durable Capital Partners LP bought a new position in shares of Veeva Systems during the 2nd quarter worth $281,351,000. AQR Capital Management LLC increased its stake in shares of 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. Pictet Asset Management Holding SA increased its stake in shares of Veeva Systems by 43.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock valued at $279,970,000 after buying an additional 483,720 shares during the period. Finally, Greenoaks Capital Partners LLC raised its holdings in shares of Veeva Systems by 198.2% in the fourth quarter. Greenoaks Capital Partners LLC now owns 694,926 shares of the technology company’s stock valued at $155,128,000 after acquiring an additional 461,908 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the topic of several recent research reports. BTIG Research reiterated a “buy” rating and set a $340.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. BNP Paribas Exane restated an “outperform” rating and issued a $285.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Canaccord Genuity Group lowered their price target on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Raymond James Financial reiterated an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Evercore reissued an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $250.96.

Veeva Systems Stock Down 0.4%

Shares of VEEV opened at $191.98 on Tuesday. The company has a 50 day moving average of $165.52 and a two-hundred day moving average of $184.58. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The company has a market cap of $31.19 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 0.83 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 the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.97 EPS. 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, sell-side analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current year.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm’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. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

About Veeva Systems

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.