Hsbc Holdings PLC Has $39.11 Million Stock Position in Veeva Systems Inc. $VEEV

Hsbc Holdings PLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 222,567 shares of the technology company’s stock after buying an additional 23,665 shares during the quarter. Hsbc Holdings PLC owned approximately 0.14% of Veeva Systems worth $39,110,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction 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 sale, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Veeva Systems Stock Performance

NYSE:VEEV opened at $197.74 on Tuesday. The company 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 has a 50 day simple moving average of $172.43 and a two-hundred day simple moving average of $182.36. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50.

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, 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 firm had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same quarter last year, the business earned $1.97 EPS. The company’s revenue 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. Research analysts predict that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analyst Ratings Changes

VEEV has been the subject of a number of research reports. Piper Sandler dropped their price objective on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Barclays decreased their price target on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Citigroup raised their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Finally, Mizuho cut their price target 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. Eighteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.