NFJ Investment Group LLC Trims Stake in Veeva Systems Inc. $VEEV

Key Points

• NFJ Investment Group cut its Veeva Systems stake by 66.7% in the fourth quarter, selling 40,658 shares and leaving it with 20,309 shares valued at about $4.53 million.
• Veeva reported better-than-expected quarterly results, with EPS of $2.24 and revenue of $882.95 million, while revenue rose 16.3% year over year.
• Analysts remain largely positive on the stock: the consensus rating is Moderate Buy with an average price target of $250.96, even as some firms trimmed targets or stayed neutral/hold.

NFJ Investment Group LLC trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 66.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,309 shares of the technology company's stock after selling 40,658 shares during the quarter. NFJ Investment Group LLC's holdings in Veeva Systems were worth $4,534,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Personal CFO Solutions LLC grew its position in Veeva Systems by 3.5% during the third quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company's stock worth $346,000 after buying an additional 39 shares in the last quarter. AFT Forsyth & Company Inc. grew its position in Veeva Systems by 4.2% during the third quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company's stock worth $293,000 after buying an additional 40 shares in the last quarter. Williams Jones Wealth Management LLC. grew its position in Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock worth $2,806,000 after buying an additional 40 shares in 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 worth $1,982,000 after buying an additional 51 shares in the last quarter. Finally, 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 worth $214,000 after buying an additional 54 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

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 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 owned 3,253 shares of the company's stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company's stock.

Veeva Systems Stock Down 0.1%

Shares of VEEV stock opened at $159.44 on Monday. The business has a 50-day moving average price of $165.06 and a two-hundred day moving average price of $191.80. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The firm has a market cap of $25.90 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 0.69 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the previous year, the company posted $1.97 earnings per share. The company's revenue was up 16.3% compared to the same quarter last year. 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. As a group, research analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. BNP Paribas Exane restated an "outperform" rating and set a $285.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Oppenheimer reaffirmed an "outperform" rating and set a $225.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. BTIG Research reaffirmed a "buy" rating and set a $340.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. UBS Group dropped their price target on Veeva Systems from $220.00 to $190.00 and set a "neutral" rating for the company in a research note on Thursday, June 4th. Finally, Canaccord Genuity Group dropped their price target on Veeva Systems from $235.00 to $220.00 and set a "hold" rating for the company in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average target price of $250.96.

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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