Aberdeen Group plc Increases Holdings in Veeva Systems Inc. $VEEV

Aberdeen Group plc lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,098 shares of the technology company’s stock after purchasing an additional 4,832 shares during the period. Aberdeen Group plc owned 0.05% of Veeva Systems worth $19,220,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. GPS Wealth Strategies Group LLC raised its stake in Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after buying an additional 55 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in Veeva Systems in the fourth quarter worth $27,000. Raiffeisen Bank International AG purchased a new position in Veeva Systems in the third quarter worth $28,000. OLD Second National Bank of Aurora purchased a new position in Veeva Systems in the third quarter worth $30,000. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Veeva Systems by 58.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Veeva Systems from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Barclays dropped their price objective on shares of Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. TD Cowen dropped their price objective on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Morgan Stanley boosted their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, Citigroup lowered their price target on shares of Veeva Systems from $319.00 to $291.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $283.70.

Veeva Systems Stock Up 0.5%

VEEV stock opened at $174.79 on Tuesday. The company’s 50-day simple moving average is $184.56 and its 200-day simple moving average is $232.57. Veeva Systems Inc. has a 52-week low of $168.13 and a 52-week high of $310.50. The firm has a market cap of $28.55 billion, a P/E ratio of 32.31, a PEG ratio of 1.15 and a beta of 1.10.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share 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 13.80%. The firm had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. During the same quarter in the prior year, the firm earned $1.74 EPS. The company’s revenue for the quarter 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, analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 23,204 shares in the company, valued at $5,370,101.72. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.30% of the stock is currently owned by company insiders.

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.