Andra AP fonden Boosts Stake in Veeva Systems Inc. $VEEV

Andra AP fonden lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 75.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,400 shares of the technology company’s stock after purchasing an additional 24,600 shares during the quarter. Andra AP fonden’s holdings in Veeva Systems were worth $17,100,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in VEEV. Sivia Capital Partners LLC grew its position in shares of Veeva Systems by 225.9% during the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock worth $899,000 after acquiring an additional 2,164 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Veeva Systems during the 2nd quarter worth $32,000. Ashton Thomas Private Wealth LLC purchased a new position in Veeva Systems during the 2nd quarter worth $261,000. Bessemer Group Inc. increased its stake in Veeva Systems by 32.9% in the second quarter. Bessemer Group Inc. now owns 3,162 shares of the technology company’s stock valued at $911,000 after purchasing an additional 783 shares during the period. Finally, New York Life Investment Management LLC raised its holdings in shares of Veeva Systems by 3.0% in the second quarter. New York Life Investment Management LLC now owns 2,406 shares of the technology company’s stock valued at $693,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $181.69 on Friday. The stock has a fifty day moving average price of $206.88 and a 200 day moving average price of $250.51. The stock has a market cap of $29.87 billion, a PE ratio of 35.35, a P/E/G ratio of 1.27 and a beta of 1.08. Veeva Systems Inc. has a 1 year low of $168.13 and a 1 year high of $310.50.

Veeva Systems declared that its Board of Directors has initiated a stock buyback program on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Veeva Systems

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

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. Morgan Stanley raised Veeva Systems from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $222.00 to $205.00 in a report on Tuesday, February 17th. Wall Street Zen downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Robert W. Baird boosted their target price on Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a report on Friday, November 21st. JPMorgan Chase & Co. decreased their price target on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $330.00 price objective on shares of Veeva Systems in a research report on Monday, November 24th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $293.71.

More Veeva Systems News

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Veeva announced eSource, a product to streamline clinical-trial data capture and workflows — a strategic product that could accelerate adoption among pharma clients and support future subscription/solutions revenue growth. Veeva eSource launch
• Positive Sentiment: A broader software bounce after comments from Nvidia’s CEO easing AI cannibalization fears lifted enterprise software stocks, giving Veeva an intra-day boost as investors rotated back into high-quality SaaS names. Sector bounce after Nvidia comments
• Positive Sentiment: Investor attention has refocused on a recently approved ~$2B share buyback and upward estimate revisions ahead of the quarter — both factors that can support valuation and near-term shareholder returns. Valuation, buyback and estimate revisions
• Neutral Sentiment: Analysis pieces digging into Q4 (fiscal) metrics and Wall Street expectations provide detail that could amplify volatility around the upcoming earnings release — useful for investors but neutral until results arrive. Zacks Q4 projections
• Neutral Sentiment: Veeva is a trending search topic and several “what to know” roundups are circulating — they increase visibility but are informational rather than directional. Zacks trending stock note
• Negative Sentiment: Barclays issued a pessimistic forecast for Veeva, which is weighing on investor sentiment and can mechanically pressure the stock and investor expectations. Barclays bearish forecast
• Negative Sentiment: Stifel Nicolaus sharply cut its price target (from $320 to $212) while keeping a buy rating — the large reduction signals lower upside expectations and likely contributed to selling pressure. Stifel price-target cut
• Negative Sentiment: Oppenheimer trimmed its price target to $275, another analyst hit that reduces headline upside and can sap momentum ahead of earnings. Oppenheimer price-target cut
• Negative Sentiment: Short interest rose about 26% in early February to ~6.33M shares (4.3% of float), increasing the potential for downward pressure and volatility if bearish sentiment persists.

Veeva Systems Company 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.