Legal & General Group Plc Has $227.36 Million Stock Position in Veeva Systems Inc. $VEEV

Legal & General Group Plc boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 8.4% in the 4th quarter, HoldingsChannel reports. The firm owned 1,018,505 shares of the technology company’s stock after acquiring an additional 78,621 shares during the period. Legal & General Group Plc’s holdings in Veeva Systems were worth $227,361,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Allen Capital Group LLC lifted its stake in Veeva Systems by 5.9% in the 4th quarter. Allen Capital Group LLC now owns 16,614 shares of the technology company’s stock valued at $3,709,000 after purchasing an additional 926 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Veeva Systems by 17.7% in the 4th quarter. William Blair Investment Management LLC now owns 881,223 shares of the technology company’s stock valued at $196,715,000 after purchasing an additional 132,579 shares during the last quarter. North Star Asset Management Inc. lifted its stake in Veeva Systems by 12.3% in the 4th quarter. North Star Asset Management Inc. now owns 132,808 shares of the technology company’s stock valued at $29,647,000 after purchasing an additional 14,535 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Veeva Systems by 5.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,020 shares of the technology company’s stock valued at $897,000 after purchasing an additional 224 shares during the last quarter. Finally, Jefferies Financial Group Inc. lifted its stake in Veeva Systems by 159.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 11,356 shares of the technology company’s stock valued at $2,535,000 after purchasing an additional 6,986 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Up 0.1%

NYSE VEEV opened at $158.69 on Thursday. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The company has a 50 day moving average of $167.03 and a 200-day moving average of $200.87. The company has a market cap of $25.92 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 0.70 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share 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 company had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. During the same period in the previous year, the business earned $1.74 earnings per share. The firm’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, equities research analysts forecast that Veeva Systems Inc. will post 6.45 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems 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 completion of the sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction 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 10.60% of the company’s stock.

Analyst Ratings Changes

VEEV has been the subject of several recent analyst reports. Canaccord Genuity Group cut their target price on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Citigroup downgraded shares of Veeva Systems from a “buy” rating to a “neutral” rating and cut their target price for the company from $291.00 to $176.00 in a research note on Friday, April 10th. Zacks Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. William Blair restated an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Finally, Royal Bank Of Canada cut their price objective 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. Sixteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $276.52.

Veeva Systems 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.