Seilern Investment Management Ltd Increases Stock Position in Veeva Systems Inc. $VEEV

Key Points

• Seilern Investment Management Ltd increased its stake in Veeva Systems by 6.7% in Q4 to 313,872 shares, a holding worth about $70.07 million that represents roughly 5.4% of Seilern's portfolio (0.19% of Veeva).
• Several large institutional investors (including Alphinity, Norges Bank, Durable Capital, AQR and Schroder) built sizable positions in Veeva, and institutions/hedge funds now own about 88.2% of the stock.
• Veeva beat quarterly estimates ($2.06 EPS vs. $1.94 expected; revenue $835.95M, +16% y/y) and the board authorized a $2.0 billion share buyback to repurchase up to ~5.5% of outstanding shares.

Seilern Investment Management Ltd grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 313,872 shares of the technology company's stock after purchasing an additional 19,683 shares during the quarter. Veeva Systems makes up approximately 5.4% of Seilern Investment Management Ltd's portfolio, making the stock its 11th largest holding. Seilern Investment Management Ltd owned 0.19% of Veeva Systems worth $70,066,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VEEV. Alphinity Investment Management Pty Ltd purchased a new stake in Veeva Systems in the 3rd quarter valued at approximately $422,241,000. Norges Bank purchased a new position in Veeva Systems during the second quarter worth $384,265,000. Durable Capital Partners LP acquired a new position in shares of Veeva Systems in the second quarter worth $281,351,000. AQR Capital Management LLC lifted its position in shares of Veeva Systems by 111.7% in the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company's stock valued at $526,508,000 after acquiring an additional 969,905 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Veeva Systems by 1,039.4% in the second quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company's stock valued at $292,292,000 after acquiring an additional 925,896 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the transaction, the insider owned 23,204 shares in the company, valued at $5,370,101.72. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Veeva Systems from $330.00 to $296.00 and set an "overweight" rating for the company in a research report on Friday, February 20th. Canaccord Genuity Group decreased their price target on shares of Veeva Systems from $280.00 to $235.00 and set a "hold" rating on the stock in a research note on Thursday, March 5th. Oppenheimer lowered their price target on shares of Veeva Systems from $325.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, February 24th. Wells Fargo & Company reduced their price objective on shares of Veeva Systems from $333.00 to $317.00 and set an "overweight" rating on the stock in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Veeva Systems in a research report on Tuesday, January 13th. They set a "sell" rating and a $215.00 target price on the stock. Seventeen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $283.70.

Veeva Systems Price Performance

VEEV opened at $185.12 on Tuesday. The stock has a market capitalization of $30.43 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 1.22 and a beta of 1.09. The business has a 50-day moving average of $193.79 and a two-hundred day moving average of $239.74. Veeva Systems Inc. has a 12 month low of $168.13 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 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 14.11%. The business had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same period in the prior year, the firm posted $1.74 EPS. The company's revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Equities research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems declared that its Board of Directors has authorized a share buyback plan on Monday, January 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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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