Forsta AP Fonden Sells 9,920 Shares of Veeva Systems Inc. $VEEV

Forsta AP Fonden reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 22.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,280 shares of the technology company’s stock after selling 9,920 shares during the quarter. Forsta AP Fonden’s holdings in Veeva Systems were worth $7,652,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $332,412,000. Alfreton Capital LLP bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $22,323,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $7,816,000. Fideuram Asset Management Ireland dac bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $2,855,000. Finally, National Pension Service boosted its position in shares of Veeva Systems by 7.4% in the fourth quarter. National Pension Service now owns 225,119 shares of the technology company’s stock valued at $50,253,000 after acquiring an additional 15,481 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VEEV has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Royal Bank Of Canada dropped their target price on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Wells Fargo & Company dropped their target price on shares of Veeva Systems from $333.00 to $317.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Finally, Truist Financial reiterated a “buy” rating and set a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.52.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Veeva Systems Trading Up 8.4%

Shares of VEEV stock opened at $188.90 on Tuesday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The stock has a market cap of $30.85 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 0.77 and a beta of 0.95. The company’s fifty day moving average price is $166.44 and its 200-day moving average price is $198.31.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $810.95 million. During the same quarter in the previous year, the business posted $1.74 EPS. The company’s quarterly revenue 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, sell-side analysts forecast that Veeva Systems Inc. will post 6.45 earnings per share for the current fiscal year.

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.