Tema ETFs LLC Takes Position in Veeva Systems Inc. $VEEV

Tema ETFs LLC purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 3,326 shares of the technology company’s stock, valued at approximately $590,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Veeva Systems in the 4th quarter worth approximately $332,412,000. Durable Capital Partners LP bought a new stake in shares of Veeva Systems during the second quarter valued at approximately $281,351,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Veeva Systems by 203.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after purchasing an additional 611,868 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of 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 in the last quarter. Finally, Swedbank AB lifted its position in Veeva Systems by 43.5% in the first quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock worth $288,983,000 after purchasing an additional 498,971 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. Guggenheim assumed coverage on shares of Veeva Systems in a research note on Thursday, July 23rd. They issued a “buy” rating and a $232.00 price objective for the company. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Robert W. Baird raised their price objective on shares of Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Finally, Wells Fargo & Company lifted their target price on shares of Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems Stock Down 3.6%

NYSE:VEEV opened at $243.60 on Friday. The firm has a market cap of $39.57 billion, a PE ratio of 43.42, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The company’s 50-day moving average price is $189.96 and its two-hundred day moving average price is $180.84.

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

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.