Veeva Systems Inc. $VEEV Shares Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 444.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 154,687 shares of the technology company’s stock after acquiring an additional 126,260 shares during the period. ExodusPoint Capital Management LP’s holdings in Veeva Systems were worth $34,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in VEEV. Sivia Capital Partners LLC boosted its position in Veeva Systems by 225.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after purchasing an additional 2,164 shares during the period. Bank of Nova Scotia boosted its position in Veeva Systems by 44.5% during the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after purchasing an additional 1,806 shares during the period. NewEdge Advisors LLC boosted 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 valued at $2,543,000 after purchasing an additional 2,272 shares during the period. Treasurer of the State of North Carolina boosted its position 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 purchasing an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC boosted its position 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 purchasing an additional 575 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the subject of a number of analyst reports. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley boosted their price objective on Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Zacks Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. reduced their price objective on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Finally, Mizuho reduced their price objective on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

Veeva Systems Stock Up 0.7%

Shares of VEEV stock opened at $163.24 on Wednesday. The stock has a 50-day simple moving average of $164.61 and a 200 day simple moving average of $190.70. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The stock has a market capitalization of $26.52 billion, a P/E ratio of 29.10, a P/E/G ratio of 0.70 and a beta of 0.95.

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

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of the firm’s 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 completion of the transaction, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 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.