BNP Paribas Financial Markets Has $66.70 Million Stake in Veeva Systems Inc. $VEEV

Key Points

• BNP Paribas Financial Markets increased its Veeva Systems stake by 27.1% in the fourth quarter, ending with 298,806 shares valued at about $66.7 million.
• Wall Street sentiment is mixed: while several firms still rate Veeva a buy, recent target cuts from firms like Needham, Citigroup, and TD Cowen lowered the average outlook to a Moderate Buy with a consensus price target of $276.52.
• Veeva recently reported better-than-expected quarterly results, including EPS of $2.06 versus $1.94 expected and revenue of $835.95 million, up 16% year over year.

BNP Paribas Financial Markets lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 27.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 298,806 shares of the technology company's stock after buying an additional 63,687 shares during the quarter. BNP Paribas Financial Markets owned about 0.18% of Veeva Systems worth $66,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of VEEV. Sivia Capital Partners LLC grew its position in shares of Veeva Systems by 225.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company's stock worth $899,000 after buying an additional 2,164 shares during the period. Bank of Nova Scotia grew its position in shares of Veeva Systems by 44.5% during the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company's stock worth $1,689,000 after buying an additional 1,806 shares during the period. NewEdge Advisors LLC grew its position in shares of Veeva Systems by 34.6% during the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company's stock worth $2,543,000 after buying an additional 2,272 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Veeva Systems by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company's stock worth $19,856,000 after buying an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC grew its position in shares of Veeva Systems by 5.3% during the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company's stock worth $3,140,000 after buying an additional 575 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC reduced their price objective on shares of Veeva Systems from $355.00 to $270.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Zacks Research downgraded shares of Veeva Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Citigroup downgraded shares of 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 report on Friday, April 10th. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $212.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Finally, TD Cowen reduced their price target on shares of Veeva Systems from $380.00 to $300.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.52.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 Price Performance

VEEV opened at $188.90 on Tuesday. The company has a market capitalization of $30.85 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 0.77 and a beta of 0.95. The firm's fifty day moving average price is $166.44 and its two-hundred day moving average price is $198.31. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. The firm had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.74 EPS. 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, equities analysts anticipate that Veeva Systems Inc. will post 6.45 EPS 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.

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