Veeva Systems Set to Join S&P 500

Rhea-AI Summary

Veeva Systems (NYSE:VEEV) will be added to the S&P 500 and will replace Coterra Energy (NYSE:CTRA) effective before the opening of trading on May 7, 2026. Devon Energy (NYSE:DVN) is acquiring Coterra in a transaction expected to close soon, pending final closing conditions.

Positive

• Veeva Systems (VEEV) will join the S&P 500 effective May 7, 2026
• Addition to S&P 500 provides passive-index inclusion for Veeva

Negative

• Coterra Energy (CTRA) will be removed from the S&P 500 effective May 7, 2026
• Coterra acquisition by Devon (DVN) remains subject to final closing conditions

Key Figures

S&P 500 change date: May 7, 2026

1 metrics

S&P 500 change date May 7, 2026 Effective date for CTRA deletion and VEEV addition to S&P 500

Market Reality Check

Price: $35.94 Vol: Volume 4,246,333 is at 0....

low vol

$35.94 Last Close

Volume Volume 4,246,333 is at 0.62x the 20-day average of 6,866,312, suggesting no unusual trading ahead of the index change. low

Technical Shares trade above the 200-day MA of 27.2, near the 52-week high of 36.88 and about 60.93% above the 52-week low.

Peers on Argus

CTRA gained 0.64% while key peers like DVN, EXE, TPL, PR, and OVV showed gains b...

CTRA gained 0.64% while key peers like DVN, EXE, TPL, PR, and OVV showed gains between 1.65% and 2.89%. However, no peers appeared in the momentum scanner, and this change is tied to an index deletion driven by the Devon merger.

Historical Context

5 past events · Latest: Feb 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Earnings and guidance	Positive	+1.9%	Strong 2025 results, 2026 guidance, dividend, and Devon stock-for-stock merger.
Feb 02	Merger commentary	Neutral	+4.1%	Kimmeridge public comments on proposed Devon–Coterra merger structure and terms.
Jan 29	Earnings call scheduling	Neutral	+2.8%	Announcement of timing for Q4 and full-year 2025 results and conference call.
Jan 05	Conference participation	Neutral	-2.9%	CFO participation at a Goldman Sachs energy conference and webcast availability.
Nov 04	Activist governance letter	Negative	+6.0%	Shareholder letter criticizing governance, strategy, and reserve write-downs post-merger.

Pattern Detected

Recent headlines, including the Devon merger and governance-focused activism, have generally coincided with positive price moves, even when the underlying news raised concerns.

Recent Company History

Over the last six months, Coterra’s key developments have centered on capital returns, strategic M&A, and governance debates. On Feb 26, 2026, strong 2025 results and an all-stock merger agreement with Devon produced a 1.93% gain. Earlier, a shareholder letter on Nov 4, 2025 criticizing governance and strategy saw shares rise 5.99%. Conference participation and earnings scheduling in early 2026 were followed by modestly positive or mixed moves. Against this backdrop, today’s S&P 500 deletion stems directly from the pending Devon acquisition rather than a shift in fundamentals.

Market Pulse Summary

This announcement formalizes that Coterra will be removed from the S&P 500 on May 7, 2026 as Devon’s...

Analysis

This announcement formalizes that Coterra will be removed from the S&P 500 on May 7, 2026 as Devon’s acquisition approaches closing. The change is mechanical and follows months of merger-related filings outlining the all-stock combination and expected timetable. Investors may focus on how the Devon exchange ratio compares with CTRA’s pre-announcement trading near its 52-week high, as well as the impact of index removal on liquidity and the eventual transition to holding Devon shares instead of Coterra.

Key Terms

s&p 500, gics sector

2 terms

s&p 500 financial

"Veeva Systems Inc. (NYSE: VEEV) will replace Coterra Energy Inc. (NYSE: CTRA) in the S&P 500 effective prior"

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

gics sector financial

"Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector"

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

AI-generated analysis. Not financial advice.

NEW YORK, April 30, 2026 /PRNewswire/ -- Veeva Systems Inc. (NYSE: VEEV) will replace Coterra Energy Inc. (NYSE: CTRA) in the S&P 500 effective prior to the opening of trading on Thursday, May 7. S&P 500 constituent Devon Energy Corp. (NYSE: DVN) is acquiring Coterra Energy in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name		Action	Company Name	Ticker	GICS Sector
May 7, 2026	S&P 500	Addition		Veeva Systems	VEEV	Health Care
May 7, 2026	S&P 500	Deletion		Coterra Energy	CTRA	Energy

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FAQ

When will Veeva Systems (VEEV) be added to the S&P 500?

Veeva Systems (VEEV) will be added to the S&P 500 effective before market open on May 7, 2026. According to Veeva Systems, the change replaces Coterra Energy (CTRA) in the index and takes effect prior to the opening of trading that day.

Which company is VEEV replacing in the S&P 500 on May 7, 2026?

VEEV is replacing Coterra Energy (CTRA) in the S&P 500 effective May 7, 2026. According to Veeva Systems, the replacement follows corporate actions tied to Coterra and Devon Energy (DVN).

How does the Devon Energy (DVN) deal affect Coterra's S&P 500 status?

Devon Energy's (DVN) acquisition of Coterra is expected to close soon and is cited as the reason for Coterra's S&P 500 removal. According to Veeva Systems, the transaction remains subject to final closing conditions.

Will the S&P 500 change for VEEV take place during trading hours on May 7, 2026?

The index change will occur prior to the opening of trading on May 7, 2026. According to Veeva Systems, additions and deletions will be effective before the market opens that day.

What tickers and sectors are involved in the May 7, 2026 S&P 500 update?

The May 7, 2026 update adds VEEV (Health Care) and deletes CTRA (Energy). According to Veeva Systems, these are the listed ticker and GICS sector entries for the change.