Quantinno Capital Management LP Acquires 84,302 Shares of Veeva Systems Inc. $VEEV

Key Points

• Quantinno Capital Management increased its Veeva Systems holdings by 268.6% in the first quarter, adding 84,302 shares and bringing its total to 115,682 shares valued at approximately $20.3 million.
• Veeva reported quarterly revenue of $882.95 million and earnings of $2.24 per share, exceeding analyst estimates; revenue grew 16.3% year over year and net margin reached 28.37%.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $247.08, although targets range widely from $165 to $320.

Quantinno Capital Management LP raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 268.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 115,682 shares of the technology company's stock after purchasing an additional 84,302 shares during the period. Quantinno Capital Management LP owned approximately 0.07% of Veeva Systems worth $20,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Robeco Institutional Asset Management B.V. increased its position in Veeva Systems by 11.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company's stock valued at $199,137,000 after acquiring an additional 90,703 shares during the last quarter. Empire Life Investments Inc. boosted its position in Veeva Systems by 21.1% in the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company's stock worth $8,272,000 after purchasing an additional 6,453 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Veeva Systems by 217.2% during the 4th quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company's stock valued at $2,337,000 after purchasing an additional 7,169 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Veeva Systems by 14.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company's stock valued at $247,817,000 after purchasing an additional 137,965 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Veeva Systems by 180.2% during the 4th quarter. KBC Group NV now owns 201,140 shares of the technology company's stock valued at $44,900,000 after purchasing an additional 129,346 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Up 1.3%

VEEV stock opened at $204.09 on Friday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The stock has a market cap of $33.15 billion, a P/E ratio of 36.38, a PEG ratio of 0.88 and a beta of 0.94. The business's 50-day moving average price is $178.56 and its 200-day moving average price is $180.41.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (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 company had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same period in the previous year, the company posted $1.97 EPS. The firm's revenue was up 16.3% on a year-over-year basis. 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, equities research analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Veeva Systems from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Thursday, June 4th. Wells Fargo & Company upped their target price on shares of Veeva Systems from $317.00 to $320.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. The Goldman Sachs Group decreased their price target on shares of Veeva Systems from $190.00 to $165.00 and set a "sell" rating on the stock in a research report on Thursday, June 4th. Zacks Research cut shares of Veeva Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Finally, Piper Sandler cut their price objective on shares of Veeva Systems from $285.00 to $235.00 and set an "overweight" rating for the company in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $247.08.

• Veeva Systems NYSE: VEEV Stock a Buy: Cloud Software for Life Sciences

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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