Y Intercept Hong Kong Ltd Purchases 17,451 Shares of Veeva Systems Inc. $VEEV

Y Intercept Hong Kong Ltd increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 33.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,255 shares of the technology company’s stock after buying an additional 17,451 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Veeva Systems were worth $12,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Williams Jones Wealth Management LLC. grew its holdings in Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock worth $2,806,000 after purchasing an additional 40 shares during the period. Personal CFO Solutions LLC raised its stake in Veeva Systems by 4.3% in the fourth quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company’s stock valued at $271,000 after buying an additional 50 shares during the period. Rafferty Asset Management LLC raised its stake in Veeva Systems by 0.7% in the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock valued at $1,982,000 after buying an additional 51 shares during the period. Brown Brothers Harriman & Co. lifted its position in shares of Veeva Systems by 8.1% in the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock valued at $214,000 after buying an additional 54 shares during the last quarter. Finally, Northwest Wealth Management LLC lifted its position in shares of Veeva Systems by 6.1% in the fourth quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company’s stock valued at $213,000 after buying an additional 55 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Up 4.4%

NYSE:VEEV opened at $192.40 on Friday. The stock has a market cap of $31.25 billion, a P/E ratio of 34.30, a PEG ratio of 0.79 and a beta of 0.94. The stock has a 50 day simple moving average of $164.94 and a 200 day simple moving average of $184.77. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm 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. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VEEV shares. Piper Sandler decreased their target price on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and set a $185.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. BTIG Research reaffirmed a “buy” rating and set a $340.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Canaccord Genuity Group cut their target price on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.96.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

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.