Quantinno Capital Management LP raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 268.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,682 shares of the technology company’s stock after buying an additional 84,302 shares during the quarter. Quantinno Capital Management LP’s holdings in Veeva Systems were worth $20,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. SHP Wealth Management bought a new position in shares of Veeva Systems during the fourth quarter worth $26,000. Newbridge Financial Services Group Inc. grew its stake in Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. Activest Wealth Management increased its holdings in Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares during the last quarter. MV Capital Management Inc. bought a new stake in Veeva Systems in the 4th quarter valued at $30,000. Finally, Reflection Asset Management purchased a new stake in Veeva Systems in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.
Wall Street Analysts Forecast Growth
VEEV has been the subject of several research reports. Raymond James Financial reissued an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Stifel Nicolaus decreased their target price on Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, June 4th. Mizuho dropped their price target on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, BNP Paribas Exane restated an “outperform” rating and set a $285.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.08.
Veeva Systems Stock Up 1.3%
Shares of NYSE:VEEV opened at $204.09 on Friday. The firm has a fifty day simple moving average of $178.56 and a two-hundred day simple moving average of $180.41. 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 $33.15 billion, a P/E ratio of 36.38, a PEG ratio of 0.88 and a beta of 0.94.
Veeva Systems (NYSE:VEEV – Get Free Report) last announced its 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. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. During the same period in the prior year, the company earned $1.97 EPS. The business’s revenue was up 16.3% compared to the same quarter last year. 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, analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current year.
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.
Featured Stories
- Five stocks we like better than Veeva Systems
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV – Free Report).
Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.
