Alphinity Investment Management Pty Ltd Has $266.44 Million Stock Position in Veeva Systems Inc. $VEEV

Key Points

• Alphinity Investment Management trimmed its stake in Veeva Systems by 15.8% in Q4, holding 1,193,579 shares worth $266.44 million, which represents about 0.73% of Veeva and roughly 2.7% of Alphinity’s portfolio (its 21st largest position).
• Veeva beat quarterly expectations, reporting $2.06 EPS vs. $1.94 estimated and revenue of $835.95M (up 16% year-over-year), and set FY2027 EPS guidance around 8.85 with Q1 guidance of 2.13–2.14.
• The board approved a $2.00 billion share repurchase program (up to 5.5% of outstanding shares), while institutional ownership stands at 88.2% and analysts’ average target implies a "Moderate Buy" at about $278.70.

Alphinity Investment Management Pty Ltd lessened its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,193,579 shares of the technology company's stock after selling 223,766 shares during the quarter. Veeva Systems accounts for approximately 2.7% of Alphinity Investment Management Pty Ltd's investment portfolio, making the stock its 21st biggest position. Alphinity Investment Management Pty Ltd owned about 0.73% of Veeva Systems worth $266,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. GPS Wealth Strategies Group LLC grew its position in Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company's stock worth $25,000 after buying an additional 55 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Veeva Systems during the fourth quarter worth approximately $27,000. Raiffeisen Bank International AG acquired a new stake in Veeva Systems during the third quarter worth approximately $28,000. Newbridge Financial Services Group Inc. grew its position in Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock worth $29,000 after buying an additional 100 shares in the last quarter. Finally, OLD Second National Bank of Aurora acquired a new stake in Veeva Systems during the third quarter worth approximately $30,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction that occurred 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 owned 4,003 shares in the company, valued at $614,460.50. This trade represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $167.73 on Wednesday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The firm has a market capitalization of $27.39 billion, a P/E ratio of 31.00, a P/E/G ratio of 1.11 and a beta of 1.10. The company's 50 day moving average price is $177.19 and its two-hundred day moving average price is $222.98.

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, 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 firm had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same quarter last year, the business posted $1.74 earnings per share. The company'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, analysts expect that Veeva Systems Inc. will post 6.41 earnings per share for the current year.

Veeva Systems announced that its Board of Directors has authorized a share repurchase plan on Monday, January 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of analyst reports. Canaccord Genuity Group reduced their price target on Veeva Systems from $280.00 to $235.00 and set a "hold" rating on the stock in a research report on Thursday, March 5th. UBS Group increased their price target on shares of Veeva Systems from $200.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Royal Bank Of Canada decreased their price objective on shares of Veeva Systems from $330.00 to $275.00 and set an "outperform" rating on the stock in a research note on Thursday, March 5th. William Blair reissued an "outperform" rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Veeva Systems from $330.00 to $296.00 and set an "overweight" rating on the stock in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $278.70.

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.

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