25,500 Shares in Veeva Systems Inc. $VEEV Acquired by ING Groep NV

Key Points

• ING Groep NV opened a new position in Veeva Systems during the fourth quarter, buying 25,500 shares worth about $5.69 million.
• Other institutional investors also increased exposure to Veeva, and institutions now own 88.20% of the company’s shares. Insider selling was limited, with Director Priscilla Hung selling 750 shares under a pre-arranged trading plan.
• Veeva recently beat quarterly expectations, reporting $2.24 EPS on $882.95 million in revenue, while analysts remain broadly constructive with a Moderate Buy consensus target price of $250.96.

ING Groep NV purchased a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 25,500 shares of the technology company's stock, valued at approximately $5,692,000.

A number of other hedge funds also recently modified their holdings of the stock. Jensen Investment Management Inc. grew its stake in Veeva Systems by 1,924.5% in the 3rd quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company's stock valued at $123,100,000 after buying an additional 392,802 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Veeva Systems by 11.3% in 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 buying an additional 90,703 shares in the last quarter. Elo Mutual Pension Insurance Co grew its stake in Veeva Systems by 50.2% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 26,541 shares of the technology company's stock valued at $7,907,000 after buying an additional 8,869 shares in the last quarter. Empire Life Investments Inc. grew its stake in Veeva Systems by 21.1% in the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company's stock valued at $8,272,000 after buying an additional 6,453 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in 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 buying an additional 235,983 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Veeva Systems Price Performance

VEEV opened at $167.33 on Tuesday. The company has a fifty day moving average price of $165.94 and a 200-day moving average price of $194.42. The firm has a market capitalization of $27.33 billion, a P/E ratio of 29.83, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95. Veeva Systems Inc. has a one year low of $148.05 and a one year 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. The firm had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.89%. The business's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.97 EPS. 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, analysts expect that Veeva Systems Inc. will post 6.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on VEEV shares. Mizuho reduced their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday. Truist Financial reiterated a "buy" rating and issued a $262.00 price objective (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Citigroup lifted their price objective on shares of Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Morgan Stanley lifted 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 note on Thursday, March 5th. Finally, BNP Paribas Exane reiterated an "outperform" rating and issued a $285.00 price objective on shares of Veeva Systems in a research note on Thursday. Eighteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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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