BNP Paribas Buys 9,077 Shares of Veeva Systems Inc. $VEEV

Key Points

• BNP Paribas boosted its Veeva Systems stake by 89.3% in the fourth quarter, buying 9,077 additional shares and bringing its total holding to 19,239 shares worth about $4.3 million.
• Other institutions also added to their positions, and institutional investors now own 88.20% of Veeva Systems’ stock, underscoring strong institutional interest.
• Veeva reported better-than-expected quarterly results, with EPS of $2.06 on revenue of $835.95 million, while analysts currently rate the stock a Moderate Buy with a consensus target price of $276.52.

BNP Paribas increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 89.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,239 shares of the technology company's stock after acquiring an additional 9,077 shares during the period. BNP Paribas' holdings in Veeva Systems were worth $4,308,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arcadia Investment Management Corp MI increased its position in Veeva Systems by 1.1% during the fourth quarter. Arcadia Investment Management Corp MI now owns 43,214 shares of the technology company's stock worth $9,647,000 after buying an additional 460 shares during the last quarter. Main Management ETF Advisors LLC increased its stake in shares of Veeva Systems by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company's stock worth $1,224,000 after purchasing an additional 56 shares during the period. Peapack Gladstone Financial Corp boosted its stake in Veeva Systems by 0.3% in the 4th quarter. Peapack Gladstone Financial Corp now owns 71,770 shares of the technology company's stock valued at $16,021,000 after purchasing an additional 221 shares during the period. Rothschild Wealth LLC boosted its stake in Veeva Systems by 39.0% in the 4th quarter. Rothschild Wealth LLC now owns 1,045 shares of the technology company's stock valued at $233,000 after purchasing an additional 293 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Veeva Systems by 4.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 48,697 shares of the technology company's stock valued at $10,871,000 after purchasing an additional 1,992 shares during the period. Institutional investors own 88.20% of the company's stock.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the transaction, the director directly owned 3,253 shares of the company's stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

Veeva Systems Price Performance

NYSE VEEV opened at $188.90 on Tuesday. The business has a fifty day moving average price of $166.44 and a two-hundred day moving average price of $198.31. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The stock has a market capitalization of $30.85 billion, a PE ratio of 34.92, a PEG ratio of 0.77 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm had revenue of $835.95 million during the quarter, compared to analysts' expectations of $810.95 million. During the same period in the prior year, the company earned $1.74 earnings per share. The company's quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, sell-side analysts expect that Veeva Systems Inc. will post 6.45 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup downgraded Veeva Systems from a "buy" rating to a "neutral" rating and reduced their price target for the company from $291.00 to $176.00 in a research note on Friday, April 10th. Wall Street Zen downgraded Veeva Systems from a "buy" rating to a "hold" rating in a research note on Sunday, March 22nd. Barclays reduced their price target on Veeva Systems from $305.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. William Blair restated an "outperform" rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Finally, Morgan Stanley boosted their price target on Veeva Systems from $205.00 to $215.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $276.52.

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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