First Trust Advisors LP Has $84.48 Million Stock Position in Veeva Systems Inc. $VEEV

First Trust Advisors LP reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 22.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 480,912 shares of the technology company’s stock after selling 143,128 shares during the period. First Trust Advisors LP’s holdings in Veeva Systems were worth $84,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VEEV. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock valued at $727,513,000 after buying an additional 271,252 shares during the last quarter. State Street Corp increased its holdings in Veeva Systems by 2.4% in the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after buying an additional 85,695 shares during the last quarter. Geode Capital Management LLC raised its position in Veeva Systems by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock valued at $706,442,000 after acquiring an additional 23,117 shares in the last quarter. AQR Capital Management LLC lifted its stake in 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 acquiring an additional 574,164 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Veeva Systems by 12.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company’s stock valued at $385,761,000 after acquiring an additional 189,093 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of the 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 completion of the transaction, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by insiders.

Key Headlines Impacting Veeva Systems

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Guggenheim upgraded Veeva Systems to strong-buy and later set a $232 price target, implying meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: Investor interest is being supported by articles highlighting Veeva as a cash-heavy stock with financial stability, which may appeal to defensive growth investors. Yahoo Finance
• Positive Sentiment: Recent commentary points to steady execution and attractive P/E multiples, reinforcing the view that Veeva’s fundamentals remain solid ahead of its next earnings report. Seeking Alpha
• Neutral Sentiment: Several recent articles focus on what to expect from Veeva’s next earnings release and broader analyst sentiment, suggesting the stock may remain sensitive to upcoming guidance and results. MSN
• Negative Sentiment: The stock had recently declined more than the broader market, reminding investors that near-term volatility remains a risk despite the positive analyst coverage. Yahoo Finance

Veeva Systems Stock Performance

NYSE:VEEV opened at $186.06 on Friday. The firm’s 50-day moving average is $174.59 and its 200-day moving average is $181.60. The company has a market cap of $30.22 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 0.77 and a beta of 0.94. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company 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. Equities analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current year.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent research reports. TD Cowen restated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Citigroup increased their target price on shares of Veeva Systems from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Mizuho reduced their price target 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. Barclays decreased their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

About Veeva Systems

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.