Y Intercept Hong Kong Ltd Purchases 17,451 Shares of Veeva Systems Inc. $VEEV

Y Intercept Hong Kong Ltd boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 33.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,255 shares of the technology company’s stock after acquiring an additional 17,451 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Veeva Systems were worth $12,341,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Williams Jones Wealth Management LLC. lifted its stake in Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock worth $2,806,000 after purchasing an additional 40 shares during the last quarter. Personal CFO Solutions LLC increased its stake in shares of Veeva Systems by 4.3% in the 4th quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company’s stock valued at $271,000 after purchasing an additional 50 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Veeva Systems by 0.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock worth $1,982,000 after buying an additional 51 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Veeva Systems by 8.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock worth $214,000 after buying an additional 54 shares in the last quarter. Finally, Northwest Wealth Management LLC lifted its position in shares of Veeva Systems by 6.1% during the 4th quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company’s stock worth $213,000 after buying an additional 55 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $192.40 on Friday. The firm has a 50 day moving average price of $164.94 and a two-hundred day moving average price of $184.77. The stock has a market cap of $31.25 billion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 0.79 and a beta of 0.94. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VEEV. Canaccord Genuity Group reduced their price objective on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. BNP Paribas Exane reissued an “outperform” rating and issued a $285.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Piper Sandler reduced their price target on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.96.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction 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. The trade was a 18.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.