Nordea Investment Management AB Raises Position in Veeva Systems Inc. $VEEV

Key Points

• Nordea Investment Management AB increased its stake in Veeva Systems by 9.3% during the second quarter, now owning approximately 391,273 shares valued at $110.8 million.
• Several institutional investors, including TFB Advisors and Triangle Securities Wealth Management, have also raised their positions in Veeva Systems, contributing to a total of 88.2% of the stock being owned by institutional investors.
• Company insiders, including SVP Jonathan Faddis, sold a combined total of 24,665 shares valued at approximately $7.4 million, marking significant decreases in their ownership percentages.

Nordea Investment Management AB raised its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 391,273 shares of the technology company's stock after purchasing an additional 33,378 shares during the quarter. Nordea Investment Management AB owned 0.24% of Veeva Systems worth $110,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TFB Advisors LLC raised its stake in shares of Veeva Systems by 1.2% in the first quarter. TFB Advisors LLC now owns 3,586 shares of the technology company's stock worth $831,000 after purchasing an additional 44 shares during the last quarter. Triangle Securities Wealth Management increased its position in shares of Veeva Systems by 0.8% during the second quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company's stock valued at $1,665,000 after acquiring an additional 45 shares during the last quarter. Marks Group Wealth Management Inc increased its position in shares of Veeva Systems by 3.3% during the first quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company's stock valued at $331,000 after acquiring an additional 46 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Veeva Systems by 7.6% during the first quarter. Harbour Investments Inc. now owns 789 shares of the technology company's stock valued at $183,000 after acquiring an additional 56 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Veeva Systems by 4.7% during the second quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company's stock valued at $356,000 after acquiring an additional 56 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 14,595 shares of the firm's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total value of $4,378,500.00. Following the completion of the transaction, the senior vice president directly owned 8,588 shares of the company's stock, valued at $2,576,400. This trade represents a 62.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 3,350 shares of the firm's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the completion of the transaction, the insider directly owned 23,773 shares of the company's stock, valued at $7,132,850.92. The trade was a 12.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,665 shares of company stock valued at $7,438,000 over the last three months. Company insiders own 10.30% of the company's stock.

Veeva Systems Trading Down 3.0%

Shares of NYSE VEEV opened at $283.96 on Friday. The stock has a fifty day simple moving average of $283.44 and a two-hundred day simple moving average of $266.73. Veeva Systems Inc. has a 1-year low of $201.54 and a 1-year high of $310.50. The firm has a market cap of $46.54 billion, a price-to-earnings ratio of 58.31, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.64). Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm had revenue of $789.08 million for the quarter, compared to the consensus estimate of $768.49 million. During the same period last year, the company posted $1.62 earnings per share. Veeva Systems's revenue for the quarter was up 16.7% on a year-over-year basis. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. Analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler increased their price target on Veeva Systems from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Canaccord Genuity Group increased their price target on Veeva Systems from $270.00 to $300.00 and gave the company a "hold" rating in a research report on Thursday, August 28th. Oppenheimer reaffirmed an "outperform" rating and set a $325.00 price target on shares of Veeva Systems in a research report on Thursday, August 28th. UBS Group increased their price target on Veeva Systems from $285.00 to $310.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Finally, Raymond James Financial reissued an "outperform" rating and set a $340.00 price objective (up from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus price target of $307.58.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.

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