Y Intercept Hong Kong Ltd Raises Stock Holdings in Veeva Systems Inc. $VEEV

Key Points

• Y Intercept Hong Kong Ltd increased its Veeva Systems stake by 165.4% in the fourth quarter, bringing its holdings to 52,804 shares worth about $11.8 million.
• Veeva Systems posted strong quarterly results, with EPS of $2.24 beating estimates and revenue of $882.95 million rising 16.3% year over year.
• Analysts remain broadly positive on the stock, with 18 Buy ratings and a consensus price target of $250.96, while shares recently traded around $159.44.

Y Intercept Hong Kong Ltd lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 165.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,804 shares of the technology company's stock after acquiring an additional 32,907 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Veeva Systems were worth $11,787,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in VEEV. Raiffeisen Bank International AG bought a new position in Veeva Systems during the third quarter valued at about $28,000. Board of the Pension Protection Fund bought a new position in Veeva Systems during the fourth quarter valued at about $27,000. Newbridge Financial Services Group Inc. grew its position in Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock valued at $29,000 after buying an additional 100 shares during the period. Activest Wealth Management grew its position in Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company's stock valued at $29,000 after buying an additional 127 shares during the period. Finally, BOK Financial Private Wealth Inc. bought a new position in Veeva Systems during the fourth quarter valued at about $33,000. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated 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 directly owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a 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 insiders.

Veeva Systems Price Performance

NYSE VEEV opened at $159.44 on Friday. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a market capitalization of $25.90 billion, a PE ratio of 28.42, a P/E/G ratio of 0.69 and a beta of 0.95. The company's 50 day simple moving average is $165.06 and its two-hundred day simple moving average is $192.11.

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

Analysts Set New Price Targets

VEEV has been the subject of several research reports. Robert W. Baird increased their price target on shares of Veeva Systems from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. William Blair reissued an "outperform" rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Canaccord Genuity Group decreased their target price on Veeva Systems from $235.00 to $220.00 and set a "hold" rating for the company in a research report on Thursday, June 4th. BTIG Research reissued a "buy" rating and issued a $340.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, TD Cowen reissued a "buy" rating on shares of Veeva Systems in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $250.96.

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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