AEGON ASSET MANAGEMENT UK Plc Trims Position in Veeva Systems Inc. $VEEV

Key Points

• AEGON Asset Management UK Plc reduced its stake in Veeva by 66.2% in Q4, selling 49,613 shares and retaining 25,330 shares worth about $5.65 million per its 13F filing.
• Veeva topped expectations for the quarter with $2.06 EPS (vs. $1.94 est.) and $835.95M revenue (up 16% YoY); the stock trades near $161 and the company has a ~$26.3B market cap.
• The board authorized a $2.0 billion buyback (up to 5.5% of shares), while analysts hold a consensus "Moderate Buy" rating with an average price target of $278.70.

AEGON ASSET MANAGEMENT UK Plc reduced its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 66.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,330 shares of the technology company's stock after selling 49,613 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Veeva Systems were worth $5,654,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its holdings in shares of Veeva Systems by 196.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company's stock valued at $25,000 after buying an additional 55 shares in the last quarter. Board of the Pension Protection Fund bought a new position in shares of Veeva Systems in the 4th quarter worth about $27,000. Raiffeisen Bank International AG purchased a new position in Veeva Systems during the 3rd quarter valued at about $28,000. Newbridge Financial Services Group Inc. lifted its position in Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock valued at $29,000 after acquiring an additional 100 shares during the period. Finally, OLD Second National Bank of Aurora bought a new stake in Veeva Systems during the third quarter worth about $30,000. 88.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Friday, April 10th. The shares were sold at an average price of $153.50, for a total value of $115,125.00. Following the sale, the director directly owned 4,003 shares in the company, valued at approximately $614,460.50. The trade was a 15.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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.

Veeva Systems Trading Down 0.0%

Veeva Systems stock opened at $161.07 on Monday. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The firm has a market capitalization of $26.31 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 0.72 and a beta of 1.10. The firm has a 50 day moving average of $176.33 and a 200 day moving average of $219.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. The company 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%. Veeva Systems's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. On average, analysts predict that Veeva Systems Inc. will post 6.41 EPS for the current year.

Veeva Systems declared that its Board of Directors has authorized a share buyback plan on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of recent research reports. Citigroup cut Veeva Systems from a "buy" rating to a "neutral" rating and cut their target price for the stock from $291.00 to $176.00 in a research note on Friday, April 10th. William Blair reiterated an "outperform" rating on shares of Veeva Systems in a research note on Tuesday, March 10th. UBS Group increased their price objective on shares of Veeva Systems from $200.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, March 5th. TD Cowen reduced their price objective on shares of Veeva Systems from $380.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Finally, Barclays decreased their target price on shares of Veeva Systems from $305.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $278.70.

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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