NFJ Investment Group LLC Sells 40,658 Shares of Veeva Systems Inc. $VEEV

NFJ Investment Group LLC lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 66.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,309 shares of the technology company’s stock after selling 40,658 shares during the period. NFJ Investment Group LLC’s holdings in Veeva Systems were worth $4,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Veeva Systems by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after acquiring an additional 457,806 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Veeva Systems by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after acquiring an additional 235,983 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Veeva Systems by 0.6% in the 4th 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 during the last quarter. State Street Corp lifted its stake in shares of Veeva Systems by 2.4% in the 4th 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 during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Veeva Systems by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock valued at $1,035,622,000 after purchasing an additional 159,984 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Stock Performance

VEEV stock opened at $159.44 on Monday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The business’s 50 day moving average price is $165.06 and its two-hundred day moving average price is $191.80. The company has a market capitalization of $25.90 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 0.69 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the prior year, the business earned $1.97 EPS. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. 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. Sell-side analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on VEEV. UBS Group lowered their price target on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Piper Sandler lowered their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Canaccord Genuity Group lowered their price target on Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Mizuho lowered their price target on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Finally, Barclays lowered their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $250.96.

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.