4,961 Shares in Veeva Systems Inc. $VEEV Acquired by Anchyra Partners LLC

Anchyra Partners LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,961 shares of the technology company’s stock, valued at approximately $1,107,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Jensen Investment Management Inc. raised its holdings in Veeva Systems by 1,924.5% during the third quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock worth $123,100,000 after purchasing an additional 392,802 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock worth $1,146,040,000 after buying an additional 388,864 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $422,241,000. Compass Wealth Management LLC purchased a new position in shares of Veeva Systems in the 3rd quarter valued at $18,694,000. Finally, ABN AMRO Bank N.V. purchased a new position in shares of Veeva Systems in the 3rd quarter valued at $246,625,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.0%

Shares of VEEV stock opened at $161.07 on Monday. The stock’s 50-day moving average price is $176.33 and its 200 day moving average price is $219.97. The stock has a market capitalization of $26.31 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 0.72 and a beta of 1.10. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The company had revenue of $835.95 million during the quarter, compared to analysts’ expectations of $810.95 million. During the same period last year, the firm earned $1.74 EPS. The firm’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. Analysts expect that Veeva Systems Inc. will post 6.41 earnings per share for the current fiscal year.

Veeva Systems declared that its Board of Directors has authorized a share buyback program on Monday, January 5th that allows the company to buyback $2.00 billion in outstanding 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 typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

VEEV has been the subject of a number of research reports. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Zacks Research upgraded Veeva Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Piper Sandler reduced their target price on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Canaccord Genuity Group decreased their target price on Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, March 5th. Finally, Stifel Nicolaus raised their price target on Veeva Systems from $212.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $278.70.

Insider Buying and Selling

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $153.50, for a total value of $115,125.00. Following the sale, the director owned 4,003 shares of the company’s stock, valued at $614,460.50. The trade was a 15.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.30% of the company’s stock.

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.