Danske Bank A S Buys Shares of 174,263 Veeva Systems Inc. $VEEV

Danske Bank A S purchased a new position in Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 174,263 shares of the technology company’s stock, valued at approximately $51,915,000. Danske Bank A S owned about 0.11% of Veeva Systems at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Jensen Investment Management Inc. raised its stake in Veeva Systems by 1,924.5% in the third quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock valued at $123,100,000 after buying an additional 392,802 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 11.2% during the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock worth $1,146,040,000 after acquiring an additional 388,864 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in Veeva Systems during the 3rd quarter worth approximately $422,241,000. Compass Wealth Management LLC purchased a new position in shares of Veeva Systems in the third quarter worth $18,694,000. Finally, ABN AMRO Bank N.V. acquired a new stake in shares of Veeva Systems during the third quarter worth $246,625,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VEEV. Oppenheimer dropped their price objective on shares of Veeva Systems from $325.00 to $275.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Morgan Stanley lifted their price target on Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. UBS Group boosted their price target on Veeva Systems from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Needham & Company LLC cut their price objective on Veeva Systems from $355.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $330.00 price objective on shares of Veeva Systems in a research note on Monday, November 24th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $283.70.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the transaction, the insider owned 23,204 shares in the company, valued at $5,370,101.72. The trade was a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.30% of the stock is owned by company insiders.

Veeva Systems Trading Down 1.3%

Shares of VEEV stock opened at $184.27 on Thursday. Veeva Systems Inc. has a twelve month low of $168.13 and a twelve month high of $310.50. The stock has a 50 day moving average of $196.98 and a 200 day moving average of $241.73. The stock has a market cap of $30.29 billion, a P/E ratio of 34.06, a P/E/G ratio of 1.24 and a beta of 1.09.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 14.11%. The business had revenue of $835.95 million for the quarter, compared to analysts’ expectations of $810.95 million. During the same quarter last year, the company earned $1.74 EPS. The business’s revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, research analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems announced that its Board of Directors has approved a stock repurchase plan on Monday, January 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.