GAMMA Investing LLC Purchases 3,199 Shares of Veeva Systems Inc. $VEEV

GAMMA Investing LLC increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 131.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,632 shares of the technology company’s stock after acquiring an additional 3,199 shares during the quarter. GAMMA Investing LLC’s holdings in Veeva Systems were worth $1,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Veeva Systems by 7.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock valued at $727,513,000 after purchasing an additional 271,252 shares during the last quarter. State Street Corp grew its holdings in Veeva Systems by 2.4% during the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after acquiring an additional 85,695 shares during the period. Geode Capital Management LLC raised its position in shares of Veeva Systems by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock valued at $706,442,000 after acquiring an additional 23,117 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Veeva Systems by 31.2% in 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Veeva Systems by 12.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company’s stock worth $385,761,000 after purchasing an additional 189,093 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

NYSE:VEEV opened at $229.93 on Friday. The stock has a 50-day simple moving average of $183.83 and a 200 day simple moving average of $180.11. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The company has a market cap of $37.35 billion, a PE ratio of 40.99, a PEG ratio of 0.94 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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. On average, research analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VEEV shares. UBS Group dropped their price objective on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Piper Sandler lowered their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Royal Bank Of Canada restated an “outperform” rating and set a $275.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Canaccord Genuity Group cut their target price on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

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.