Handelsbanken Fonder AB Sells 6,672 Shares of Veeva Systems Inc. $VEEV

Key Points

• Handelsbanken Fonder AB cut its Veeva Systems stake by 5.5% in the fourth quarter, selling 6,672 shares and leaving it with 115,681 shares worth about $25.8 million.
• Veeva reported better-than-expected quarterly results, posting EPS of $2.06 versus the $1.94 estimate and revenue of $835.95 million, up 16% year over year.
• Despite the earnings beat, several analysts lowered price targets on VEEV, and the stock was trading around $165.10, well below its 52-week high of $310.50.

Handelsbanken Fonder AB lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,681 shares of the technology company's stock after selling 6,672 shares during the period. Handelsbanken Fonder AB owned 0.07% of Veeva Systems worth $25,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VEEV. Alphinity Investment Management Pty Ltd bought a new position in Veeva Systems in the third quarter worth approximately $422,241,000. Durable Capital Partners LP purchased a new stake in shares of Veeva Systems in the second quarter worth approximately $281,351,000. ABN AMRO Bank N.V. purchased a new stake in shares of Veeva Systems in the third quarter worth approximately $246,625,000. AQR Capital Management LLC raised its stake in shares of Veeva Systems by 31.2% in the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock worth $706,078,000 after purchasing an additional 574,164 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Veeva Systems by 3.1% in the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company's stock worth $4,596,522,000 after purchasing an additional 457,806 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Trading Up 1.1%

Shares of VEEV opened at $165.10 on Thursday. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 0.73 and a beta of 0.92. The stock has a 50 day moving average of $169.55 and a 200 day moving average of $205.57. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts' consensus estimates 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 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 last year, the business 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.

Trending Headlines about Veeva Systems

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Investor sentiment improved after Michael Burry was reported to hold a position in Veeva Systems, adding a high-profile endorsement for the stock. Veeva Systems Inc. (VEEV): Michael Burry Admires This Software Stock
• Positive Sentiment: Multiple articles highlighted Veeva’s RTSM momentum, major pharma wins, and durable long-term growth drivers in clinical software, reinforcing the bull case for the business. Veeva Systems' RTSM Momentum Signals Another Long-Term Growth Driver
• Positive Sentiment: Coverage also framed Veeva as a strong growth stock with healthy fundamentals and long-term investor appeal, which can help support the shares. Here's Why Veeva Systems (VEEV) is a Strong Growth Stock
• Neutral Sentiment: Another article repeated the argument that Veeva has strong long-term growth potential and is attracting institutional interest, but it was largely reiterative rather than a new catalyst. Long-Term Growth Potential Driving Investor Interest In Veeva Systems Inc. (VEEV)
• Neutral Sentiment: Analyst commentary remained generally optimistic overall, though one report noted Oppenheimer trimmed its price target to $225, which may limit enthusiasm somewhat. Veeva Systems NYSE: VEEV Price Target Lowered to $225.00 at Oppenheimer
• Negative Sentiment: One market recap said Veeva rose but still lagged the broader market, suggesting the move may reflect cautious trading rather than a decisive breakout. Veeva Systems (VEEV) Rises Yet Lags Behind Market: Some Facts Worth Knowing

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares of the company's stock, valued at $506,296.92. This trade represents a 18.74% 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. 10.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VEEV. Wells Fargo & Company lowered their price objective on Veeva Systems from $333.00 to $317.00 and set an "overweight" rating for the company in a research note on Thursday, March 5th. Needham & Company LLC lowered their price objective on Veeva Systems from $355.00 to $270.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Canaccord Genuity Group lowered their price objective on Veeva Systems from $280.00 to $235.00 and set a "hold" rating for the company in a research note on Thursday, March 5th. JPMorgan Chase & Co. lowered their price objective on Veeva Systems from $330.00 to $296.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Finally, Barclays lowered their price objective on Veeva Systems from $305.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $276.52.

Veeva Systems Company 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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