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 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 566,533 shares of the technology company’s stock after buying an additional 43,286 shares during the period. Nordea Investment Management AB’s holdings in Veeva Systems were worth $126,654,000 at the end of the most recent quarter.

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

Insider Activity

In other 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 approximately $5,370,101.72. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 10.30% of the company’s stock.

Veeva Systems Trading Down 0.8%

Veeva Systems stock opened at $184.16 on Monday. The firm has a market capitalization of $30.27 billion, a P/E ratio of 34.04, a P/E/G 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. The stock’s fifty day simple moving average is $194.75 and its 200-day simple moving average is $240.34.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The firm had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. During the same period last year, the business posted $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. Sell-side analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems declared that its Board of Directors has initiated a share repurchase program on Monday, January 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Canaccord Genuity Group lowered their price target 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. Citigroup cut their price objective on Veeva Systems from $319.00 to $291.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Barclays decreased their target price on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Royal Bank Of Canada dropped their target price on Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Finally, TD Cowen cut their price target on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.70.

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.