Y Intercept Hong Kong Ltd Invests $5.93 Million in Veeva Systems Inc. $VEEV

Y Intercept Hong Kong Ltd purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,897 shares of the technology company’s stock, valued at approximately $5,928,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in Veeva Systems during the second quarter valued at $384,265,000. Durable Capital Partners LP purchased a new stake in Veeva Systems in the 2nd quarter worth about $281,351,000. AQR Capital Management LLC boosted its position in Veeva Systems by 111.7% during the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock worth $526,508,000 after purchasing an additional 969,905 shares during the period. Schroder Investment Management Group boosted its position in Veeva Systems by 1,039.4% during the second quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock worth $292,292,000 after purchasing an additional 925,896 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of Veeva Systems by 423.8% in the second quarter. Los Angeles Capital Management LLC now owns 841,303 shares of the technology company’s stock valued at $242,278,000 after purchasing an additional 680,702 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Down 1.5%

VEEV stock opened at $221.87 on Friday. The company’s 50 day moving average is $232.59 and its 200 day moving average is $266.93. The stock has a market cap of $36.47 billion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07. Veeva Systems Inc. has a 1-year low of $201.54 and a 1-year high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.09. The firm had revenue of $0.81 million for the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $1.75 EPS. 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. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the sale, the insider directly owned 23,204 shares of the company’s stock, valued at $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several analyst reports. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Truist Financial upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Thursday, January 8th. UBS Group cut their price objective 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 decreased their target price on shares of Veeva Systems from $341.00 to $333.00 and set an “overweight” rating on the stock in a report on Tuesday, November 25th. Finally, TD Cowen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $297.00 to $380.00 in a research note on Tuesday, October 7th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.04.

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.