Hsbc Holdings PLC Acquires 23,665 Shares of Veeva Systems Inc. $VEEV

Hsbc Holdings PLC lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 222,567 shares of the technology company’s stock after buying an additional 23,665 shares during the period. Hsbc Holdings PLC’s holdings in Veeva Systems were worth $39,110,000 at the end of the most recent quarter.

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

Veeva Systems Price Performance

VEEV opened at $197.74 on Tuesday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The firm has a market capitalization of $32.12 billion, a PE ratio of 35.25, a P/E/G ratio of 0.84 and a beta of 0.94. The company’s 50-day moving average is $172.43 and its 200 day moving average is $182.36.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results 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. The business had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous 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. As a group, analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research reports. Wall Street Zen downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group reduced their price objective on Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a research note on Thursday, June 4th. Barclays decreased their price objective on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and set a $185.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group cut their target price on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.74.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction on 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 sale, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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.

Veeva Systems 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.