PensionDanmark Pensionsforsikringsaktieselskab Boosts Holdings in Veeva Systems Inc. $VEEV

Key Points

• PensionDanmark increased its Veeva Systems stake by 37.5% in the second quarter, adding 16,457 shares to bring its holdings to 60,291 shares valued at approximately $10.7 million. Institutional investors collectively own 88.2% of the stock.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $247.08, despite UBS and Mizuho reducing their targets.
• Veeva reported quarterly EPS of $2.24 versus the $2.14 consensus estimate and revenue of $882.95 million, up 16.3% year over year. The stock opened at $229.93, up 5.6%.

PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 37.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,291 shares of the technology company's stock after purchasing an additional 16,457 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Veeva Systems were worth $10,700,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. SHP Wealth Management bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. boosted its position in shares of Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Activest Wealth Management boosted its position in shares of Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Arlington Trust Co LLC purchased a new position in Veeva Systems during the second quarter valued at $29,000. Finally, MV Capital Management Inc. purchased a new position in Veeva Systems during the fourth quarter valued at $30,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on VEEV. UBS Group decreased their price target on shares of Veeva Systems from $220.00 to $190.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. BTIG Research reaffirmed a "buy" rating and issued a $340.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Mizuho decreased their target price on Veeva Systems from $295.00 to $270.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $275.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Citigroup raised their price target on Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $247.08.

Veeva Systems Stock Up 5.6%

Veeva Systems stock opened at $229.93 on Friday. The company's 50-day moving average price is $183.83 and its 200-day moving average price is $180.11. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The company has a market cap of $37.35 billion, a PE ratio of 40.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92.

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 firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm earned $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. As a group, sell-side analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Veeva Systems 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.

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source