Veeva Systems Inc. $VEEV Stake Raised by Tidal Investments LLC

Key Points

• Tidal Investments increased its Veeva Systems stake by 49.2% in the second quarter to 29,882 shares valued at approximately $5.3 million. Institutional investors collectively own 88.2% of the company.
• Veeva exceeded quarterly expectations, reporting $2.35 in EPS on $927.96 million in revenue, with revenue up 17.6% year over year. The company posted a 29.34% net margin.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $284.88. However, insiders sold 46,750 shares worth about $12 million over the last quarter.

Tidal Investments LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 49.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,882 shares of the technology company's stock after acquiring an additional 9,859 shares during the quarter. Tidal Investments LLC's holdings in Veeva Systems were worth $5,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of Veeva Systems by 16,590.3% during the second quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company's stock worth $6,990,228,000 after purchasing an additional 39,152,230 shares during the period. Norges Bank purchased a new stake in shares of Veeva Systems during the fourth quarter valued at $332,412,000. Durable Capital Partners LP acquired a new position in shares of Veeva Systems in the 2nd quarter valued at $281,351,000. Fundsmith LLP purchased a new position in Veeva Systems in the 2nd quarter worth about $144,955,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Veeva Systems by 203.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company's stock worth $160,427,000 after purchasing an additional 611,868 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

VEEV stock opened at $262.30 on Monday. The firm has a 50 day simple moving average of $228.50 and a 200 day simple moving average of $191.08. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The stock has a market cap of $42.47 billion, a P/E ratio of 43.14, a P/E/G ratio of 1.12 and a beta of 0.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.99 EPS. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. Sell-side analysts predict that Veeva Systems Inc. will post 6.7 EPS for the current year.

Analysts Set New Price Targets

VEEV has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Veeva Systems from $275.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. BTIG Research restated a "buy" rating and set a $340.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Evercore restated an "outperform" rating and issued a $185.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Truist Financial lifted their price objective on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $284.88.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas Schwenger sold 10,000 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $281.33, for a total value of $2,813,300.00. Following the transaction, the insider owned 19,449 shares in the company, valued at $5,471,587.17. The trade was a 33.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the company's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the transaction, the director directly owned 3,242 shares in the company, valued at approximately $846,291.68. The trade was a 18.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 46,750 shares of company stock valued at $12,017,360. 10.60% of the stock is owned by corporate insiders.

Veeva Systems Profile

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company's Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.

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