Virtu Financial LLC Takes Position in Veeva Systems Inc. $VEEV

Key Points

• Virtu Financial disclosed a new fourth-quarter stake in Veeva Systems, buying 9,358 shares valued at about $2.09 million.
• Veeva Systems reported stronger-than-expected quarterly results, with EPS of $2.24 beating estimates and revenue rising 16.3% year over year to $882.95 million.
• Analyst sentiment is mixed but still constructive overall: the stock carries a Moderate Buy consensus, though several firms recently cut price targets, and shares opened at $153.20 near their 52-week low.

Virtu Financial LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,358 shares of the technology company's stock, valued at approximately $2,089,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Veeva Systems during the fourth quarter valued at approximately $332,412,000. Durable Capital Partners LP purchased a new stake in shares of Veeva Systems in the second quarter worth $281,351,000. AQR Capital Management LLC raised its position in shares of Veeva Systems by 31.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock valued at $706,078,000 after purchasing an additional 574,164 shares during the period. Greenoaks Capital Partners LLC raised its position in shares of Veeva Systems by 198.2% during the 4th quarter. Greenoaks Capital Partners LLC now owns 694,926 shares of the technology company's stock valued at $155,128,000 after purchasing an additional 461,908 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of Veeva Systems by 10,109.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 356,920 shares of the technology company's stock valued at $79,675,000 after purchasing an additional 353,424 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

NYSE:VEEV opened at $153.20 on Friday. The company has a market cap of $24.89 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 0.66 and a beta of 0.95. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The stock's 50 day simple moving average is $163.55 and its two-hundred day simple moving average is $189.23.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its 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 firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same period in the prior year, the company earned $1.97 EPS. The company'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, analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analyst Upgrades and Downgrades

VEEV has been the subject of several recent analyst reports. BMO Capital Markets dropped their target price on shares of Veeva Systems from $220.00 to $175.00 and set a "market perform" rating for the company in a report on Thursday, June 4th. Citigroup raised their price target on Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. BNP Paribas Exane restated an "outperform" rating and issued a $285.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. The Goldman Sachs Group lowered their price objective on Veeva Systems from $190.00 to $165.00 and set a "sell" rating on the stock in a research report on Thursday, June 4th. Finally, Morgan Stanley upped their price objective on Veeva Systems from $205.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 5th. Eighteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $250.96.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction on Thursday, April 30th. The shares were 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 trade represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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.

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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