Aigen Investment Management LP Buys 16,926 Shares of Veeva Systems Inc. $VEEV

Key Points

• Aigen Investment Management LP boosted its Veeva Systems stake by 738.8% in the fourth quarter, adding 16,926 shares to reach 19,217 shares valued at about $4.29 million.
• Veeva Systems reported better-than-expected quarterly results, with EPS of $2.24 versus $2.14 expected and revenue up 16.3% year over year to $882.95 million.
• Wall Street sentiment remains constructive, with a Moderate Buy consensus rating and a consensus price target of $250.96, even as the stock traded down 1.3% on the day.

Aigen Investment Management LP lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 738.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,217 shares of the technology company's stock after acquiring an additional 16,926 shares during the quarter. Veeva Systems makes up 1.0% of Aigen Investment Management LP's portfolio, making the stock its 10th biggest holding. Aigen Investment Management LP's holdings in Veeva Systems were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of VEEV. Board of the Pension Protection Fund acquired a new position in shares of Veeva Systems during the 4th quarter worth $27,000. Raiffeisen Bank International AG acquired a new position in shares of Veeva Systems during the 3rd quarter worth $28,000. Newbridge Financial Services Group Inc. increased its stake in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Activest Wealth Management increased its stake in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after purchasing an additional 127 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Veeva Systems during the 4th quarter worth $33,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Down 1.3%

NYSE:VEEV opened at $159.44 on Friday. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The firm's fifty day simple moving average is $165.06 and its 200 day simple moving average is $192.11. The firm has a market capitalization of $25.90 billion, a PE ratio of 28.42, a PEG ratio of 0.69 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same period last year, the business posted $1.97 EPS. Veeva Systems'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. As a group, analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VEEV. BTIG Research restated a "buy" rating and set a $340.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. BNP Paribas Exane restated an "outperform" rating and set a $285.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Citigroup increased their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Morgan Stanley increased their price target on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 5th. Eighteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $250.96.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a document filed 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 corporate insiders.

Veeva Systems Company 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.

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