SG Americas Securities LLC Boosts Position in Veeva Systems Inc. $VEEV

Key Points

• SG Americas Securities LLC increased its Veeva Systems stake by 57% in the first quarter, buying 11,481 additional shares and bringing its total holdings to 31,631 shares worth about $5.56 million.
• Institutional ownership remains heavy, with 88.20% of Veeva’s stock held by hedge funds and other institutional investors, while insider ownership stands at 10.60%.
• Veeva reported stronger-than-expected quarterly results, posting EPS of $2.24 and revenue of $882.95 million, both above analyst forecasts; analysts currently rate the stock a “Moderate Buy” with a consensus target price of $250.96.

SG Americas Securities LLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 57.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,631 shares of the technology company's stock after purchasing an additional 11,481 shares during the quarter. SG Americas Securities LLC's holdings in Veeva Systems were worth $5,556,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VEEV. Sivia Capital Partners LLC grew its position in shares of Veeva Systems by 225.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company's stock valued at $899,000 after buying an additional 2,164 shares during the last quarter. Bank of Nova Scotia lifted its position in Veeva Systems by 44.5% in the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company's stock valued at $1,689,000 after acquiring an additional 1,806 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Veeva Systems by 34.6% in the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company's stock valued at $2,543,000 after acquiring an additional 2,272 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Veeva Systems by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company's stock worth $19,856,000 after purchasing an additional 1,452 shares during the last quarter. Finally, Diversify Wealth Management LLC grew its holdings in shares of Veeva Systems by 5.3% during the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company's stock worth $3,140,000 after purchasing an additional 575 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VEEV shares. Evercore reissued an "outperform" rating and issued a $185.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Weiss Ratings downgraded Veeva Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday. TD Cowen reaffirmed a "buy" rating on shares of Veeva Systems in a research report on Thursday, June 4th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, Robert W. Baird increased their price objective on Veeva Systems from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $250.96.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of the firm's 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 $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

Shares of VEEV opened at $171.28 on Monday. The stock has a market capitalization of $27.82 billion, a P/E ratio of 30.53, a P/E/G ratio of 0.74 and a beta of 0.95. The company's fifty day moving average is $163.76 and its two-hundred day moving average is $186.05. 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 released 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 analysts' expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business's revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business 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. Sell-side analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current year.

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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