Quantitative Investment Management LLC Sells 10,809 Shares of Veeva Systems Inc. $VEEV

Quantitative Investment Management LLC lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 45.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,053 shares of the technology company’s stock after selling 10,809 shares during the quarter. Quantitative Investment Management LLC’s holdings in Veeva Systems were worth $2,316,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock valued at $727,513,000 after acquiring an additional 271,252 shares in the last quarter. State Street Corp increased its holdings in Veeva Systems by 2.4% in the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after purchasing an additional 85,695 shares in the last quarter. Geode Capital Management LLC raised its position in Veeva Systems by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock valued at $706,442,000 after purchasing an additional 23,117 shares during the last quarter. AQR Capital Management LLC raised its position in Veeva Systems by 31.2% in 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 purchasing an additional 574,164 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Veeva Systems by 12.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company’s stock valued at $385,761,000 after purchasing an additional 189,093 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 36,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $250.23, for a total value of $9,008,280.00. Following the transaction, the insider owned 19,449 shares in the company, valued at $4,866,723.27. The trade was a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

NYSE:VEEV opened at $285.56 on Tuesday. The company has a market capitalization of $46.39 billion, a PE ratio of 46.97, a P/E/G ratio of 1.19 and a beta of 0.92. The company has a 50 day simple moving average of $211.13 and a two-hundred day simple moving average of $185.08. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the previous year, the company earned $1.99 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. Research analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analyst Upgrades and Downgrades

VEEV has been the subject of several recent research reports. Truist Financial upped their price objective on Veeva Systems from $262.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Oppenheimer lifted their target price on shares of Veeva Systems from $225.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Barclays boosted their target price on shares of Veeva Systems from $275.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Royal Bank Of Canada upped their price target on shares of Veeva Systems from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Finally, Citigroup raised their price target on shares of Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a research note on Friday. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $284.46.

Veeva Systems 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.