PFA Pension Forsikringsaktieselskab Takes Position in Veeva Systems Inc. $VEEV

Key Points

• PFA Pension Forsikringsaktieselskab bought a new stake of 47,196 shares in Veeva Systems (NYSE:VEEV) in Q4, valued at about $10.6 million.
• Analysts are mixed but the consensus is a Moderate Buy with an average price target of $278.70 versus the current stock price near $171.70, indicating a sizable gap to analysts' expectations.
• Veeva recently beat Q4 estimates (EPS $2.06 vs. $1.94; revenue $835.95M vs. $810.95M) with 16% revenue growth and has authorized a $2.0 billion share buyback (up to ~5.5% of shares).

PFA Pension Forsikringsaktieselskab bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,196 shares of the technology company's stock, valued at approximately $10,602,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Linden Thomas Advisory Services LLC increased its stake in shares of Veeva Systems by 0.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company's stock valued at $3,707,000 after buying an additional 35 shares in the last quarter. Personal CFO Solutions LLC increased its stake in shares of Veeva Systems by 3.5% in the third quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company's stock valued at $346,000 after buying an additional 39 shares in the last quarter. AFT Forsyth & Company Inc. increased its stake in shares of Veeva Systems by 4.2% in the third quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company's stock valued at $293,000 after buying an additional 40 shares in the last quarter. Williams Jones Wealth Management LLC. increased its stake in shares of Veeva Systems by 0.4% in the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock valued at $2,806,000 after buying an additional 40 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Veeva Systems by 0.7% in the third quarter. CIBC Asset Management Inc now owns 6,821 shares of the technology company's stock valued at $2,032,000 after buying an additional 45 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VEEV. Zacks Research upgraded Veeva Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Weiss Ratings lowered Veeva Systems from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, January 12th. The Goldman Sachs Group initiated coverage on Veeva Systems in a research report on Tuesday, January 13th. They issued a "sell" rating and a $215.00 price objective for the company. TD Cowen lowered their price objective on Veeva Systems from $380.00 to $300.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Finally, Wall Street Zen lowered Veeva Systems from a "buy" rating to a "hold" rating in a research report on Sunday, March 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $278.70.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $153.50, for a total transaction of $115,125.00. Following the completion of the transaction, the director directly owned 4,003 shares in the company, valued at approximately $614,460.50. The trade was a 15.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.30% of the company's stock.

Veeva Systems Stock Up 0.1%

Shares of VEEV stock opened at $171.70 on Monday. The stock has a 50-day moving average price of $174.70 and a 200 day moving average price of $216.26. The firm has a market cap of $28.04 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 0.77 and a beta of 0.93. 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 announced its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. The firm had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The company's revenue was up 16.0% on a year-over-year basis. During the same period last year, the company earned $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Sell-side analysts predict that Veeva Systems Inc. will post 6.41 earnings per share for the current fiscal year.

Veeva Systems declared that its board has initiated a stock buyback program on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

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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