Arrowstreet Capital Limited Partnership Grows Stake in Veeva Systems Inc. $VEEV

Arrowstreet Capital Limited Partnership grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 203.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 913,281 shares of the technology company’s stock after purchasing an additional 611,868 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Veeva Systems were worth $160,427,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sivia Capital Partners LLC raised its holdings 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 worth $899,000 after buying an additional 2,164 shares during the last quarter. Bank of Nova Scotia increased its holdings in Veeva Systems by 44.5% in the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock worth $1,689,000 after buying an additional 1,806 shares during the period. NewEdge Advisors LLC raised its position in Veeva Systems by 34.6% during the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after buying an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Veeva Systems by 2.2% during 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 acquiring an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC lifted its stake 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 acquiring an additional 575 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Key Headlines Impacting Veeva Systems

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Guggenheim upgraded Veeva Systems to strong-buy and later set a $232 price target, implying meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: Investor interest is being supported by articles highlighting Veeva as a cash-heavy stock with financial stability, which may appeal to defensive growth investors. Yahoo Finance
• Positive Sentiment: Recent commentary points to steady execution and attractive P/E multiples, reinforcing the view that Veeva’s fundamentals remain solid ahead of its next earnings report. Seeking Alpha
• Neutral Sentiment: Several recent articles focus on what to expect from Veeva’s next earnings release and broader analyst sentiment, suggesting the stock may remain sensitive to upcoming guidance and results. MSN
• Negative Sentiment: The stock had recently declined more than the broader market, reminding investors that near-term volatility remains a risk despite the positive analyst coverage. Yahoo Finance

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 3.6%

NYSE:VEEV opened at $186.06 on Friday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The stock’s 50-day moving average price is $174.59 and its 200-day moving average price is $181.60. The stock has a market capitalization of $30.22 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 0.80 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. The business had revenue of $882.95 million during the quarter, compared to analysts’ expectations 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 was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business earned $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. Sell-side analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research reports. Evercore reiterated an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Weiss Ratings raised shares of Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 10th. The Goldman Sachs Group cut their price target on Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research report on Thursday, June 4th. Finally, BMO Capital Markets reduced their price objective on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

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.