ExodusPoint Capital Management LP Grows Position in Veeva Systems Inc. $VEEV

Key Points

• ExodusPoint Capital Management increased its Veeva Systems stake by 444.2% in the fourth quarter, ending with 154,687 shares valued at about $34.5 million. Several other institutional investors also added positions, and hedge funds and other institutions now own 88.2% of the stock.
• Analysts remain broadly positive on Veeva Systems despite some trimmed price targets. The stock has 18 Buy ratings, 8 Holds, and 1 Sell, with a consensus target price of $250.96 and a “Moderate Buy” rating overall.
• Veeva reported strong quarterly results, posting EPS of $2.24 versus the $2.14 estimate and revenue of $882.95 million, up 16.3% year over year. The company also provided FY2027 guidance and continues to trade well below its 52-week high.

ExodusPoint Capital Management LP raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 444.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,687 shares of the technology company's stock after purchasing an additional 126,260 shares during the quarter. ExodusPoint Capital Management LP owned 0.09% of Veeva Systems worth $34,531,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Board of the Pension Protection Fund purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $27,000. Raiffeisen Bank International AG purchased a new stake in shares of Veeva Systems during the 3rd quarter valued at about $28,000. Newbridge Financial Services Group Inc. raised its holdings 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 valued at $29,000 after buying an additional 100 shares during the period. Activest Wealth Management raised its holdings 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 valued at $29,000 after buying an additional 127 shares during the period. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $33,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Veeva Systems from $330.00 to $296.00 and set an "overweight" rating on the stock in a report on Friday, February 20th. Royal Bank Of Canada reiterated an "outperform" rating and set a $275.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Wells Fargo & Company raised their target price on Veeva Systems from $317.00 to $320.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Piper Sandler dropped their target price on Veeva Systems from $285.00 to $235.00 and set an "overweight" rating on the stock in a report on Thursday, June 4th. Finally, William Blair reiterated an "outperform" rating on shares of Veeva Systems in a report on Tuesday, March 10th. Eighteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $250.96.

Veeva Systems Stock Up 0.7%

Shares of NYSE VEEV opened at $163.24 on Wednesday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The business has a 50 day moving average price of $164.61 and a two-hundred day moving average price of $190.70. The firm has a market cap of $26.52 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 0.70 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business's revenue was up 16.3% on a year-over-year basis. During the same quarter last 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. On average, analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on 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 owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.

About Veeva Systems

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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