Veeva Systems Inc. $VEEV Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 2,994.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,348 shares of the technology company’s stock after purchasing an additional 40,012 shares during the quarter. Glenmede Trust Co. NA’s holdings in Veeva Systems were worth $7,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew 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 buying an additional 271,252 shares during the period. State Street Corp raised its position in shares of Veeva Systems by 2.4% during the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock valued at $801,267,000 after buying 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 buying an additional 23,117 shares during the period. AQR Capital Management LLC lifted its holdings in Veeva Systems by 31.2% in the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock valued at $706,078,000 after acquiring an additional 574,164 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Veeva Systems by 12.3% in the fourth 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 acquiring an additional 189,093 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Up 1.1%

VEEV opened at $206.11 on Tuesday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The business has a fifty day simple moving average of $179.48 and a 200-day simple moving average of $179.88. The firm has a market cap of $33.48 billion, a P/E ratio of 36.74, a P/E/G ratio of 0.88 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share 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 business had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. During the same period in the previous year, the firm posted $1.97 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. 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. Sell-side analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on VEEV. Barclays cut their target price on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday. Raymond James Financial reissued an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Mizuho reduced their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, UBS Group decreased their target price on shares of Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $247.08.

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.