Entropy Technologies LP Invests $6.75 Million in Veeva Systems Inc. $VEEV

Key Points

• Entropy Technologies LP opened a new position in Veeva Systems during the fourth quarter, buying 30,246 shares valued at about $6.75 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 88.2% of Veeva’s stock. Several firms, including Norges Bank, Durable Capital, and Vanguard, also increased or initiated stakes.
• Veeva reported strong quarterly results, with EPS of $2.24 and revenue of $882.95 million, both ahead of expectations. The stock was down 1.3% to $159.44, while analysts still rate it a Moderate Buy with a consensus target of $250.96.

Entropy Technologies LP bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 30,246 shares of the technology company's stock, valued at approximately $6,752,000.

Several other hedge funds have also modified their holdings of VEEV. Norges Bank purchased a new stake in shares of Veeva Systems during the 4th quarter worth about $332,412,000. Durable Capital Partners LP purchased a new stake in shares of Veeva Systems during the 2nd quarter worth about $281,351,000. AQR Capital Management LLC boosted its stake in shares of Veeva Systems by 31.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock worth $706,078,000 after acquiring an additional 574,164 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Veeva Systems by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company's stock worth $4,596,522,000 after acquiring an additional 457,806 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Veeva Systems by 10,109.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 356,920 shares of the technology company's stock worth $79,675,000 after acquiring an additional 353,424 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BNP Paribas Exane reissued an "outperform" rating and set a $285.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Citigroup upped their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. BMO Capital Markets reduced their price target on shares of Veeva Systems from $220.00 to $175.00 and set a "market perform" rating for the company in a research report on Thursday, June 4th. Wells Fargo & Company upped their price target on shares of Veeva Systems from $317.00 to $320.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group reduced their price target on shares of Veeva Systems from $190.00 to $165.00 and set a "sell" rating for the company in a research report on Thursday, June 4th. 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 stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus price target of $250.96.

Veeva Systems Stock Down 1.3%

VEEV opened at $159.44 on Friday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The company has a 50-day moving average price of $165.06 and a 200 day moving average price of $192.11. The company has a market cap of $25.90 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 0.69 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last released 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. The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. 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, sell-side analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Insider Buying and Selling

In other Veeva Systems 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 completion of the sale, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company's stock.

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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