Danske Bank A S Reduces Position in Veeva Systems Inc. $VEEV

Danske Bank A S lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 167,273 shares of the technology company’s stock after selling 6,990 shares during the period. Danske Bank A S’s holdings in Veeva Systems were worth $37,340,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Jensen Investment Management Inc. increased its position in Veeva Systems by 1,924.5% in the third quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock worth $123,100,000 after buying an additional 392,802 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new position in shares of Veeva Systems during the 3rd quarter valued at approximately $422,241,000. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 11.2% during 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 acquiring an additional 388,864 shares during the period. Compass Wealth Management LLC purchased a new stake in Veeva Systems in the 3rd quarter worth approximately $18,694,000. Finally, ABN AMRO Bank N.V. purchased a new stake in Veeva Systems in the 3rd quarter worth approximately $246,625,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $171.70 on Friday. The company has a market cap of $28.04 billion, a P/E ratio of 31.74, a P/E/G ratio of 0.70 and a beta of 0.93. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The firm’s fifty day moving average is $174.70 and its two-hundred day moving average is $217.25.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, analysts forecast that Veeva Systems Inc. will post 6.41 EPS for the current fiscal year.

Veeva Systems declared that its board has approved a share repurchase plan on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to purchase up to 5.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VEEV. Citigroup downgraded shares of Veeva Systems from a “buy” rating to a “neutral” rating and lowered their price target for the company from $291.00 to $176.00 in a report on Friday, April 10th. 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. Zacks Research upgraded shares of Veeva Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. UBS Group upped their target price on shares of Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $262.00 price target (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $278.70.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $153.50, for a total transaction of $115,125.00. Following the completion of the transaction, the director directly owned 4,003 shares of the company’s stock, valued at approximately $614,460.50. This represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.30% of the company’s stock.

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.