Quantitative Investment Management LLC Has $2.32 Million Stock Holdings in Veeva Systems Inc. $VEEV

Quantitative Investment Management LLC reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 45.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,053 shares of the technology company’s stock after selling 10,809 shares during the period. Quantitative Investment Management LLC’s holdings in Veeva Systems were worth $2,316,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. SHP Wealth Management acquired a new position in Veeva Systems during the fourth quarter worth approximately $26,000. MV Capital Management Inc. acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $30,000. Reflection Asset Management bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $32,000. BOK Financial Private Wealth Inc. bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $33,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Veeva Systems during the 3rd quarter worth approximately $45,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Piper Sandler upped their price target on shares of Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group raised their price objective on Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. BTIG Research reiterated a “buy” rating and set a $340.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. TD Cowen increased their target price on Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Finally, The Goldman Sachs Group decreased their price target on Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research report on Thursday, June 4th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $284.46.

Veeva Systems Trading Up 3.2%

NYSE VEEV opened at $285.56 on Tuesday. The firm has a market capitalization of $46.39 billion, a price-to-earnings ratio of 46.97, a P/E/G ratio of 1.19 and a beta of 0.92. The firm’s 50 day simple moving average is $211.13 and its 200 day simple moving average is $185.08. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same period in the previous year, the business earned $1.99 earnings per share. The company’s revenue was up 17.6% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. On average, equities research analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Insider Activity

In other news, insider Thomas D. Schwenger sold 36,000 shares of Veeva Systems stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the transaction, the insider owned 19,449 shares in the company, valued at approximately $4,866,723.27. This trade represents a 64.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.