Man Group plc Grows Holdings in Veeva Systems Inc. $VEEV

Man Group plc grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 78.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 715,977 shares of the technology company’s stock after buying an additional 315,139 shares during the period. Man Group plc’s holdings in Veeva Systems were worth $159,828,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its stake in Veeva Systems by 11.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock worth $199,137,000 after buying an additional 90,703 shares in the last quarter. Elo Mutual Pension Insurance Co grew its stake in Veeva Systems by 50.2% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 26,541 shares of the technology company’s stock worth $7,907,000 after buying an additional 8,869 shares in the last quarter. Empire Life Investments Inc. grew its stake in Veeva Systems by 21.1% in the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock worth $8,272,000 after buying an additional 6,453 shares in the last quarter. Alliancebernstein L.P. grew its stake in Veeva Systems by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock worth $1,770,071,000 after buying an additional 235,983 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Veeva Systems by 217.2% in the 4th quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock worth $2,337,000 after buying an additional 7,169 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of research reports. William Blair reissued an “outperform” rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Stifel Nicolaus cut their price objective on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, June 4th. Piper Sandler cut their price objective on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Finally, Wells Fargo & Company upped their price objective on shares of Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.96.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $154.48 on Thursday. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The stock has a market capitalization of $25.09 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.95. The company has a fifty day moving average of $164.20 and a 200-day moving average of $190.10.

Veeva Systems (NYSE:VEEV) last announced its quarterly 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. The business had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.97 EPS. 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, equities research analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. This represents a 18.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

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.