Veeva Systems Inc. $VEEV Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 566,533 shares of the technology company’s stock after buying an additional 43,286 shares during the quarter. Nordea Investment Management AB owned approximately 0.34% of Veeva Systems worth $126,654,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC raised its holdings in shares of Veeva Systems by 0.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company’s stock valued at $3,707,000 after acquiring an additional 35 shares during the last quarter. Personal CFO Solutions LLC boosted its stake in shares of Veeva Systems by 3.5% in the third quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company’s stock worth $346,000 after acquiring an additional 39 shares during the last quarter. AFT Forsyth & Company Inc. boosted its stake in shares of Veeva Systems by 4.2% in the third quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company’s stock worth $293,000 after acquiring an additional 40 shares during the last quarter. Williams Jones Wealth Management LLC. increased its position in shares of Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock worth $2,806,000 after purchasing an additional 40 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of Veeva Systems by 17.1% during the third quarter. Private Trust Co. NA now owns 281 shares of the technology company’s stock worth $84,000 after purchasing an additional 41 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Down 0.8%

Shares of VEEV stock opened at $184.16 on Monday. The company’s 50-day moving average price is $194.75 and its 200-day moving average price is $240.34. The stock has a market cap of $30.27 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 1.22 and a beta of 1.09. Veeva Systems Inc. has a twelve month low of $168.13 and a twelve month high of $310.50.

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

Veeva Systems announced that its board has initiated a stock repurchase program on Monday, January 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the technology company to buy up to 5.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. Piper Sandler decreased their price objective on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Veeva Systems in a report on Friday, December 12th. TD Cowen reduced their target price on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. The Goldman Sachs Group assumed coverage on shares of Veeva Systems in a research note on Tuesday, January 13th. They issued a “sell” rating and a $215.00 price target on the stock. Finally, Wall Street Zen lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Sunday. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.70.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the sale, the insider owned 23,204 shares in the company, valued at $5,370,101.72. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.30% of the stock is owned by corporate insiders.

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.