KBC Group NV increased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 180.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 201,140 shares of the technology company's stock after acquiring an additional 129,346 shares during the quarter. KBC Group NV owned about 0.12% of Veeva Systems worth $44,900,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Alphinity Investment Management Pty Ltd acquired a new position in Veeva Systems in the third quarter valued at about $422,241,000. Durable Capital Partners LP acquired a new position in Veeva Systems in the second quarter valued at about $281,351,000. ABN AMRO Bank N.V. acquired a new position in Veeva Systems in the third quarter valued at about $246,625,000. AQR Capital Management LLC grew its stake in 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 valued at $706,078,000 after acquiring an additional 574,164 shares during the period. Finally, Vanguard Group Inc. grew its stake in Veeva Systems by 3.1% in the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company's stock valued at $4,596,522,000 after acquiring an additional 457,806 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.
Insider Activity 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 stock was sold at an average price of $153.50, for a total value of $115,125.00. Following the sale, the director directly owned 4,003 shares in the company, valued at $614,460.50. The trade was a 15.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.30% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of research analysts have issued reports on VEEV shares. Truist Financial reissued a "buy" rating and issued a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Royal Bank Of Canada decreased their target price on Veeva Systems from $330.00 to $275.00 and set an "outperform" rating for the company in a research note on Thursday, March 5th. Oppenheimer decreased their target price on Veeva Systems from $325.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, February 24th. UBS Group boosted their target price on Veeva Systems from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Finally, Needham & Company LLC decreased their target price 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. Sixteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $278.70.
Read Our Latest Stock Report on VEEV
Veeva Systems Price Performance
Shares of Veeva Systems stock opened at $167.46 on Friday. The firm has a market cap of $27.35 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The stock's 50-day moving average is $178.20 and its 200-day moving average is $226.67. Veeva Systems Inc. has a one year low of $148.05 and a one year 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 for the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company 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. On average, equities analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.
Veeva Systems announced that its Board of Directors has approved a share repurchase plan on Monday, January 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.
About Veeva Systems
(
Free Report)
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.
Further Reading
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