Swedbank AB Grows Stake in Veeva Systems Inc. $VEEV

Swedbank AB increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 43.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,645,128 shares of the technology company’s stock after purchasing an additional 498,971 shares during the period. Swedbank AB’s holdings in Veeva Systems were worth $288,983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Alliancebernstein L.P. increased its stake in Veeva Systems by 4.1% during the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock worth $1,770,071,000 after buying an additional 235,983 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company’s stock valued at $863,978,000 after acquiring an additional 23,416 shares in the last quarter. State Street Corp lifted its position in shares of Veeva Systems by 2.4% in the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock valued at $801,267,000 after acquiring an additional 85,695 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Veeva Systems by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock worth $706,442,000 after acquiring an additional 23,117 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Veeva Systems by 31.2% in the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after acquiring an additional 574,164 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on VEEV. Royal Bank Of Canada reissued an “outperform” rating and issued a $275.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Citigroup raised their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Wells Fargo & Company upped their price objective on shares of Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, Barclays decreased their target price on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $250.96.

Veeva Systems Stock Up 1.2%

Shares of VEEV traded up $2.23 during midday trading on Tuesday, reaching $194.24. The company had a trading volume of 716,583 shares, compared to its average volume of 2,683,654. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The firm has a 50 day simple moving average of $165.52 and a 200-day simple moving average of $184.58. The stock has a market cap of $31.55 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 0.83 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the previous year, the company earned $1.97 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on 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 directly owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 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.