11,323 Shares in Veeva Systems Inc. $VEEV Acquired by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB bought a new stake in Veeva Systems during the first quarter, purchasing 11,323 shares valued at about $1.99 million.
• Veeva Systems reported better-than-expected quarterly results, with EPS of $2.24 versus $2.14 expected and revenue of $882.95 million, up 16.3% year over year.
• Analyst sentiment remains broadly positive: the stock carries a Moderate Buy consensus, with 18 Buy ratings and an average target price of $250.96.

AMF Tjanstepension AB purchased a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,323 shares of the technology company's stock, valued at approximately $1,989,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its position in shares of Veeva Systems by 11.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company's stock valued at $199,137,000 after purchasing an additional 90,703 shares in the last quarter. Empire Life Investments Inc. increased its holdings in Veeva Systems by 21.1% in the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company's stock worth $8,272,000 after purchasing an additional 6,453 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Veeva Systems by 4.1% in the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company's stock worth $1,770,071,000 after purchasing an additional 235,983 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Veeva Systems by 217.2% in the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company's stock valued at $2,337,000 after buying an additional 7,169 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in Veeva Systems by 14.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company's stock valued at $247,817,000 after buying an additional 137,965 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction 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 sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The transaction 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. 10.60% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Performance

Shares of VEEV opened at $190.27 on Monday. The stock has a 50 day moving average price of $168.68 and a two-hundred day moving average price of $183.56. The firm has a market capitalization of $30.91 billion, a P/E ratio of 33.92, a P/E/G ratio of 0.82 and a beta of 0.94. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating 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 business had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same period in the prior year, the firm posted $1.97 EPS. Veeva Systems's quarterly revenue 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. On average, equities analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays reduced their price objective on shares of Veeva Systems from $250.00 to $235.00 and set an "overweight" rating for the company in a research report on Thursday, June 4th. Raymond James Financial reissued an "outperform" rating and set a $225.00 target price on shares of Veeva Systems in a research note 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 report on Thursday, June 4th. Canaccord Genuity Group decreased their price target on shares of Veeva Systems from $235.00 to $220.00 and set a "hold" rating for the company in a research note on Thursday, June 4th. Finally, Oppenheimer reiterated an "outperform" rating and set a $225.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $250.96.

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.

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