AustralianSuper Pty Ltd Buys Shares of 10,988 Veeva Systems Inc. $VEEV

Key Points

• AustralianSuper Pty Ltd opened a new position in Veeva Systems, buying 10,988 shares worth about $2.45 million in the fourth quarter.
• Other institutional investors also adjusted their stakes, and the article notes that 88.20% of Veeva shares are owned by hedge funds and other institutions.
• Analysts have recently turned more cautious, with several firms cutting price targets and Citigroup downgrading the stock to neutral; the consensus rating remains Moderate Buy with an average target of $278.70.

AustralianSuper Pty Ltd bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,988 shares of the technology company's stock, valued at approximately $2,453,000.

Several other hedge funds and other institutional investors also recently modified their holdings of VEEV. GPS Wealth Strategies Group LLC grew its stake in shares of Veeva Systems by 196.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company's stock valued at $25,000 after purchasing an additional 55 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Veeva Systems in the 4th quarter valued at approximately $27,000. Raiffeisen Bank International AG purchased a new position in shares of Veeva Systems in the 3rd quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. grew its stake in shares of Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Finally, Activest Wealth Management lifted its holdings in shares of Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company's stock valued at $29,000 after buying an additional 127 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on VEEV. Oppenheimer reduced their price target on Veeva Systems from $325.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, February 24th. Barclays reduced their price target on Veeva Systems from $305.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Citigroup cut Veeva Systems from a "buy" rating to a "neutral" rating and reduced their price target for the company from $291.00 to $176.00 in a report on Friday, April 10th. Wells Fargo & Company reduced their price target on Veeva Systems from $333.00 to $317.00 and set an "overweight" rating for the company in a report on Thursday, March 5th. Finally, TD Cowen reduced their price target on Veeva Systems from $380.00 to $300.00 and set a "buy" rating for the company in a report on Thursday, March 5th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and an average price target of $278.70.

Insider Transactions at Veeva Systems

In related 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 completion of the transaction, the director directly owned 3,253 shares of the company's stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $159.03 on Friday. The stock has a fifty day moving average price of $171.47 and a 200 day moving average price of $208.80. The stock has a market cap of $25.98 billion, a PE ratio of 29.40, a P/E/G ratio of 0.70 and a beta of 0.92. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. The firm had revenue of $835.95 million during the quarter, compared to analysts' expectations of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.Veeva Systems's revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, equities research analysts predict that Veeva Systems Inc. will post 6.41 earnings per share for the current year.

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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