Nykredit A S Takes Position in Veeva Systems Inc. $VEEV

Key Points

• Nykredit A/S acquired 61,859 shares of Veeva Systems in the second quarter, valued at approximately $10.98 million. Institutional investors collectively own 88.2% of the company.
• Veeva insiders sold 46,750 shares worth approximately $12.02 million over the past 90 days, including sales by insider Thomas D. Schwenger and director Priscilla Hung.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $284.88. Veeva recently beat quarterly earnings and revenue estimates, reporting $2.35 in EPS and $927.96 million in revenue, up 17.6% year over year.

Nykredit A S acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 61,859 shares of the technology company's stock, valued at approximately $10,978,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust grew its stake in Veeva Systems by 229.8% in the second quarter. Parkside Financial Bank & Trust now owns 1,108 shares of the technology company's stock valued at $197,000 after purchasing an additional 772 shares during the last quarter. Giverny Capital Inc. purchased a new stake in shares of Veeva Systems during the second quarter valued at about $16,852,000. CYBER HORNET ETFs LLC bought a new stake in shares of Veeva Systems in the 2nd quarter valued at about $72,000. Washington Trust Advisors Inc. boosted its holdings in shares of Veeva Systems by 7.5% in the 2nd quarter. Washington Trust Advisors Inc. now owns 49,843 shares of the technology company's stock valued at $8,846,000 after buying an additional 3,475 shares in the last quarter. Finally, Wedmont Private Capital grew its position in shares of Veeva Systems by 14.1% in the 2nd quarter. Wedmont Private Capital now owns 1,938 shares of the technology company's stock worth $368,000 after buying an additional 239 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Insider Activity

In related news, insider Thomas D. Schwenger sold 10,000 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the sale, the insider directly owned 19,449 shares of the company's stock, valued at approximately $5,471,587.17. This represents a 33.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the company's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the transaction, the director owned 3,242 shares of the company's stock, valued at approximately $846,291.68. This trade represents a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 46,750 shares of company stock worth $12,017,360. 10.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Veeva Systems from $275.00 to $325.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Truist Financial lifted their price target on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Guggenheim upped their price target on Veeva Systems from $276.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. TD Cowen raised their price objective on Veeva Systems from $235.00 to $283.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Finally, Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Saturday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $284.88.

Veeva Systems Trading Up 0.1%

VEEV opened at $260.36 on Monday. The firm has a market capitalization of $42.16 billion, a PE ratio of 42.82, a P/E/G ratio of 1.11 and a beta of 0.97. The firm has a 50 day moving average of $235.86 and a two-hundred day moving average of $194.06. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm's revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.99 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. As a group, analysts predict that Veeva Systems Inc. will post 6.7 EPS for the current fiscal year.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company's Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.

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