Danske Bank A S Has $37.34 Million Stock Holdings in Veeva Systems Inc. $VEEV

Key Points

• Danske Bank trimmed its stake in Veeva by 4.0%, selling 6,990 shares and now holds 167,273 shares worth $37.34 million, about 0.10% of the company.
• High institutional ownership at 88.20% and insiders owning 10.30% — including a recent sale of 750 shares by director Priscilla Hung executed under a Rule 10b5‑1 plan.
• Veeva posted a quarter with an EPS beat ($2.06 vs. $1.94) and 16% revenue growth, the board authorized a $2.0 billion buyback, and analysts are mixed but the consensus rating is a “Moderate Buy” with a $278.70 target while the stock trades around $171.70.

Danske Bank A S decreased its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 167,273 shares of the technology company's stock after selling 6,990 shares during the period. Danske Bank A S owned approximately 0.10% of Veeva Systems worth $37,340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of VEEV. Jensen Investment Management Inc. boosted its holdings in Veeva Systems by 1,924.5% during the 3rd quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company's stock worth $123,100,000 after acquiring an additional 392,802 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Veeva Systems in the third quarter valued at about $422,241,000. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 11.2% during the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company's stock valued at $1,146,040,000 after purchasing an additional 388,864 shares in the last quarter. Compass Wealth Management LLC purchased a new position in Veeva Systems during the third quarter worth about $18,694,000. Finally, ABN AMRO Bank N.V. purchased a new position in Veeva Systems during the third quarter worth about $246,625,000. 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 the firm's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $153.50, for a total value of $115,125.00. Following the completion of the sale, the director directly owned 4,003 shares of the company's stock, valued at $614,460.50. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.30% of the company's stock.

Wall Street Analyst Weigh In

VEEV has been the subject of several analyst reports. Citigroup lowered shares of Veeva Systems from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $291.00 to $176.00 in a research note on Friday, April 10th. UBS Group boosted their target price on Veeva Systems from $200.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. William Blair reaffirmed an "outperform" rating on shares of Veeva Systems in a report on Tuesday, March 10th. Weiss Ratings downgraded Veeva Systems from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, January 12th. Finally, Canaccord Genuity Group dropped their price target on Veeva Systems from $280.00 to $235.00 and set a "hold" rating on the stock in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $278.70.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $171.70 on Friday. The firm has a market cap of $28.04 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 0.70 and a beta of 0.93. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The firm's 50-day simple moving average is $174.70 and its two-hundred day simple moving average is $217.25.

Veeva Systems (NYSE:VEEV - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $810.95 million. The company's revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. Analysts forecast that Veeva Systems Inc. will post 6.41 earnings per share for the current year.

Veeva Systems declared that its board has authorized a stock repurchase program 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 programs are generally a sign that the company's board believes its shares are undervalued.

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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