Arrowstreet Capital Limited Partnership Raises Stock Holdings in Veeva Systems Inc. $VEEV

Arrowstreet Capital Limited Partnership lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 203.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 913,281 shares of the technology company's stock after acquiring an additional 611,868 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.56% of Veeva Systems worth $160,427,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. SHP Wealth Management bought a new position in shares of Veeva Systems in the 4th quarter worth approximately $26,000. Newbridge Financial Services Group Inc. grew its position 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 buying an additional 100 shares during the period. Activest Wealth Management grew its position in Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company's stock valued at $29,000 after buying an additional 127 shares during the period. MV Capital Management Inc. purchased a new stake in Veeva Systems during the fourth quarter valued at approximately $30,000. Finally, Reflection Asset Management purchased a new stake in Veeva Systems during the fourth quarter valued at approximately $32,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about 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

Insider Buying and Selling

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 sale, the director directly owned 3,253 shares of the company's stock, valued at $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

Veeva Systems Trading Up 3.6%

Shares of Veeva Systems stock opened at $186.06 on Friday. The stock has a 50 day moving average of $174.59 and a 200 day moving average of $181.60. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The firm has a market cap of $30.22 billion, a PE ratio of 33.17, a PEG ratio of 0.80 and a beta of 0.94.

• Veeva Systems NYSE: VEEV Stock a Buy: Cloud Software for Life Sciences

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping 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 company had revenue of $882.95 million for the quarter, compared to analysts' expectations of $857.73 million. During the same quarter in the previous year, the business posted $1.97 earnings per share. Veeva Systems's quarterly revenue was up 16.3% on a year-over-year basis. 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, equities research analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Veeva Systems from $190.00 to $165.00 and set a "sell" rating for the company in a report on Thursday, June 4th. Mizuho reduced their target price on shares of Veeva Systems from $295.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday, June 4th. Needham & Company LLC restated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. BMO Capital Markets lowered their price target on shares of Veeva Systems from $220.00 to $175.00 and set a "market perform" rating on the stock in a report on Thursday, June 4th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Veeva Systems in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $247.08.

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.

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