Y Intercept Hong Kong Ltd Acquires Shares of 19,897 Veeva Systems Inc. $VEEV

Y Intercept Hong Kong Ltd bought a new position in Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, HoldingsChannel reports. The fund bought 19,897 shares of the technology company’s stock, valued at approximately $5,928,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Veeva Systems by 1.4% during the second quarter. Vanguard Group Inc. now owns 14,971,425 shares of the technology company’s stock valued at $4,311,471,000 after acquiring an additional 210,859 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Veeva Systems by 3.7% during the 2nd quarter. Alliancebernstein L.P. now owns 5,705,648 shares of the technology company’s stock valued at $1,643,113,000 after purchasing an additional 205,997 shares during the period. JPMorgan Chase & Co. raised its position in Veeva Systems by 2.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,316,274 shares of the technology company’s stock valued at $955,030,000 after purchasing an additional 85,516 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Veeva Systems by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,092,539 shares of the technology company’s stock worth $888,108,000 after buying an additional 114,003 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Veeva Systems by 111.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock worth $526,508,000 after buying an additional 969,905 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several recent analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Veeva Systems in a report on Friday, December 12th. UBS Group dropped their target price on shares of Veeva Systems from $310.00 to $280.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Wells Fargo & Company cut their target price on shares of Veeva Systems from $341.00 to $333.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 25th. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, William Blair restated an “outperform” rating on shares of Veeva Systems in a report on Friday, October 17th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $308.04.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the sale, the insider owned 23,204 shares in the company, valued at $5,370,101.72. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.30% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $221.87 on Friday. The company has a 50 day simple moving average of $232.59 and a two-hundred day simple moving average of $266.93. Veeva Systems Inc. has a fifty-two week low of $201.54 and a fifty-two week high of $310.50. The company has a market capitalization of $36.47 billion, a price-to-earnings ratio of 43.16, a P/E/G ratio of 1.64 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The firm had revenue of $0.81 million for the quarter, compared to analysts’ expectations of $792.37 million. During the same period in the prior year, the firm posted $1.75 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. On average, analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems announced that its Board of Directors has approved a stock repurchase plan on Monday, January 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 5.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.