Bank of New York Mellon Corp Has $107.72 Million Position in Veeva Systems Inc. $VEEV

Bank of New York Mellon Corp raised its position in Veeva Systems Inc. (NYSE:VEEV) by 7.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 613,202 shares of the technology company’s stock after acquiring an additional 41,862 shares during the period. Bank of New York Mellon Corp’s holdings in Veeva Systems were worth $107,715,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SHP Wealth Management bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. lifted its position in Veeva Systems by 322.6% in 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 period. Activest Wealth Management boosted 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 buying an additional 127 shares in the last quarter. MV Capital Management Inc. bought a new stake in Veeva Systems in the 4th quarter valued at $30,000. Finally, Reflection Asset Management bought a new stake in Veeva Systems in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 1.2%

NYSE:VEEV opened at $197.74 on Tuesday. The firm has a market cap of $32.12 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 0.84 and a beta of 0.94. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The company’s 50-day moving average price is $172.43 and its two-hundred day moving average price is $182.36.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. The company had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. Veeva Systems’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 earnings per share. 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, research analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VEEV shares. The Goldman Sachs Group dropped their price target on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a research report on Thursday, June 4th. BTIG Research reiterated a “buy” rating and issued a $340.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Barclays dropped their target price on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. BNP Paribas Exane restated an “outperform” rating and set a $285.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Mizuho decreased their price target 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. Eighteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $247.74.

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.