Hsbc Holdings PLC Increases Stock Holdings in Veeva Systems Inc. $VEEV

Key Points

• Hsbc Holdings PLC increased its stake in Veeva Systems by 25.2% in the fourth quarter, buying 39,983 additional shares and bringing its total holdings to 198,902 shares valued at about $44.5 million.
• Veeva reported stronger-than-expected quarterly results, with EPS of $2.24 versus $2.14 expected and revenue of $882.95 million, up 16.3% year over year.
• Analyst sentiment remains mixed but generally constructive, with an average “Moderate Buy” rating and an average price target of $250.96, even as some firms trimmed targets and one rating was downgraded.

Hsbc Holdings PLC boosted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 25.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 198,902 shares of the technology company's stock after buying an additional 39,983 shares during the quarter. Hsbc Holdings PLC owned approximately 0.12% of Veeva Systems worth $44,481,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Veeva Systems by 11.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company's stock worth $199,137,000 after purchasing an additional 90,703 shares in the last quarter. Empire Life Investments Inc. lifted its position in Veeva Systems by 21.1% in the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company's stock worth $8,272,000 after buying an additional 6,453 shares during the last quarter. Alliancebernstein L.P. lifted its position in Veeva Systems by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company's stock worth $1,770,071,000 after buying an additional 235,983 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Veeva Systems by 217.2% in the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company's stock worth $2,337,000 after buying an additional 7,169 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Veeva Systems by 14.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company's stock worth $247,817,000 after buying an additional 137,965 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 currently owned by corporate insiders.

Veeva Systems Price Performance

NYSE VEEV opened at $192.40 on Monday. The stock has a market capitalization of $31.25 billion, a PE ratio of 34.30, a PEG ratio of 0.83 and a beta of 0.94. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The business's 50-day moving average is $165.52 and its 200 day moving average is $184.58.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the prior year, the company posted $1.97 EPS. Veeva Systems's quarterly revenue was up 16.3% compared to the same quarter last year. 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 anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on VEEV shares. Citigroup boosted their price objective on shares of Veeva Systems from $176.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. Piper Sandler reduced their target price on shares of Veeva Systems from $285.00 to $235.00 and set an "overweight" rating on the stock in a report on Thursday, June 4th. Weiss Ratings cut shares of Veeva Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 25th. Mizuho lowered their price target on shares of Veeva Systems from $295.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Finally, BTIG Research restated a "buy" rating and set a $340.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $250.96.

Veeva Systems Company 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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