Lansforsakringar Fondforvaltning AB publ Acquires 27,678 Shares of Veeva Systems Inc. $VEEV

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its Veeva Systems stake by 57.4% in the first quarter, buying 27,678 additional shares and bringing its total holdings to 75,916 shares worth about $13.3 million.
• Veeva Systems reported better-than-expected quarterly results, with EPS of $2.24 versus estimates of $2.14 and revenue of $882.95 million, up 16.3% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $250.96, though some firms recently lowered ratings or targets.

Lansforsakringar Fondforvaltning AB publ boosted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 57.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,916 shares of the technology company's stock after purchasing an additional 27,678 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Veeva Systems were worth $13,335,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Williams Jones Wealth Management LLC. raised its stake in shares of Veeva Systems by 0.4% during the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock worth $2,806,000 after purchasing an additional 40 shares during the period. Personal CFO Solutions LLC boosted its holdings in shares of Veeva Systems by 4.3% in the 4th quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company's stock worth $271,000 after buying an additional 50 shares during the last quarter. Rafferty Asset Management LLC grew its position in Veeva Systems by 0.7% during the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock valued at $1,982,000 after buying an additional 51 shares during the period. Brown Brothers Harriman & Co. grew its position in Veeva Systems by 8.1% during the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock valued at $214,000 after buying an additional 54 shares during the period. Finally, Northwest Wealth Management LLC increased its holdings in Veeva Systems by 6.1% during the fourth quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company's stock worth $213,000 after buying an additional 55 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Up 3.9%

Shares of NYSE:VEEV opened at $184.45 on Thursday. The firm has a market capitalization of $29.96 billion, a PE ratio of 32.88, a P/E/G ratio of 0.76 and a beta of 0.94. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The company has a 50-day moving average price of $164.44 and a two-hundred day moving average price of $184.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.10. The company had revenue of $882.95 million for the quarter, compared to analysts' expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. Veeva Systems's revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.97 EPS. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Insider Activity

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the 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 sale, the director owned 3,253 shares in the company, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on VEEV shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $275.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Weiss Ratings lowered shares of Veeva Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, June 25th. Citigroup raised their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, BNP Paribas Exane reiterated an "outperform" rating and issued a $285.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $250.96.

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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