Veeva Systems Inc. $VEEV Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 613,202 shares of the technology company’s stock after purchasing an additional 41,862 shares during the period. Bank of New York Mellon Corp owned approximately 0.38% of Veeva Systems worth $107,715,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SHP Wealth Management purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $26,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Activest Wealth Management boosted its stake in Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 127 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of Veeva Systems in the fourth quarter worth approximately $30,000. Finally, Reflection Asset Management acquired a new position in shares of Veeva Systems in the 4th quarter valued at $32,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Up 1.2%

NYSE:VEEV opened at $197.74 on Tuesday. The firm has a market cap of $32.12 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 0.84 and a beta of 0.94. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The company has a 50-day moving average of $172.43 and a 200-day moving average of $182.36.

Veeva Systems (NYSE:VEEV) last announced 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 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%.Veeva Systems’s revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.97 earnings per share. 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 forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VEEV. BMO Capital Markets reduced their price objective on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating on the stock in a research note on Thursday, June 4th. Robert W. Baird upped their price objective 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. Piper Sandler decreased their price target on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. BNP Paribas Exane reiterated an “outperform” rating and issued a $285.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group decreased their price objective on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $247.74.

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.