Jennison Associates LLC Raises Stock Position in Veeva Systems Inc. $VEEV

Key Points

• Jennison Associates increased its stake in Veeva by 12.0% in Q4 to 413,826 shares (about $92.38M), roughly 0.25% of the company.
• Veeva beat quarterly estimates with $2.06 EPS vs. $1.94 expected and $835.95M revenue (+16% YoY), issued FY2027 guidance around $8.85 EPS and Q1 guidance of $2.13–2.14, and its board authorized a $2.0 billion buyback (up to 5.5% of shares).
• Shares opened at $155.92 (12‑month range $148.05–$310.50) with a $25.47B market cap; institutional owners hold 88.2% of the stock, insiders 10.3%, and a director sold 750 shares under a 10b5‑1 plan.

Jennison Associates LLC increased its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 413,826 shares of the technology company's stock after acquiring an additional 44,368 shares during the quarter. Jennison Associates LLC owned approximately 0.25% of Veeva Systems worth $92,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Linden Thomas Advisory Services LLC increased its holdings in Veeva Systems by 0.3% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company's stock worth $3,707,000 after acquiring an additional 35 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in Veeva Systems by 3.5% in the 3rd quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company's stock worth $346,000 after acquiring an additional 39 shares in the last quarter. AFT Forsyth & Company Inc. increased its holdings in Veeva Systems by 4.2% in the 3rd quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company's stock worth $293,000 after acquiring an additional 40 shares in the last quarter. Williams Jones Wealth Management LLC. increased its holdings in Veeva Systems by 0.4% in the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock worth $2,806,000 after acquiring an additional 40 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in Veeva Systems by 1.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,905 shares of the technology company's stock worth $865,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Veeva Systems Trading Down 1.5%

Shares of VEEV stock opened at $155.92 on Friday. The company's 50-day moving average price is $174.70 and its 200-day moving average price is $217.25. The stock has a market cap of $25.47 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 0.71 and a beta of 1.10. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $835.95 million for the quarter, compared to analysts' expectations of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company 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. As a group, equities research 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 stock repurchase plan on Monday, January 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology company to buy up to 5.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Zacks Research raised shares of Veeva Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Citigroup lowered shares of Veeva Systems from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $291.00 to $176.00 in a report on Friday, April 10th. Morgan Stanley upped their target price on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Truist Financial reaffirmed a "buy" rating and set a $262.00 target price (down from $275.00) on shares of Veeva Systems in a report on Thursday, March 5th. Finally, Barclays dropped 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 given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $278.70.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $153.50, for a total transaction of $115,125.00. Following the transaction, the director owned 4,003 shares of the company's stock, 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 can be accessed 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.

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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