Swedbank AB Boosts Stake in Veeva Systems Inc. $VEEV

Key Points

• Swedbank AB significantly increased its Veeva Systems stake in the first quarter, boosting its holdings by 43.5% to 1.65 million shares worth about $289 million. The firm now owns roughly 1.01% of the company.
• Veeva reported stronger-than-expected quarterly results, posting EPS of $2.24 versus the $2.14 consensus and revenue of $882.95 million, up 16.3% year over year. The company also issued FY2027 and Q2 2027 guidance.
• Analysts remain mostly constructive on the stock, with 18 Buy ratings, seven Hold ratings, and two Sell ratings, alongside a consensus target price of $250.96. Shares were trading at $194.24, below the consensus target but near the middle of their 52-week range.

Swedbank AB lifted its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 43.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,645,128 shares of the technology company's stock after acquiring an additional 498,971 shares during the period. Swedbank AB owned 1.01% of Veeva Systems worth $288,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SHP Wealth Management purchased a new position in shares of Veeva Systems in the fourth quarter worth about $26,000. Board of the Pension Protection Fund acquired a new position in Veeva Systems in the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. increased its holdings in Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock worth $29,000 after buying an additional 100 shares during the period. Activest Wealth Management raised its position in Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after buying an additional 127 shares during the last quarter. Finally, MV Capital Management Inc. purchased a new position in Veeva Systems during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VEEV shares. Piper Sandler cut their price objective on shares of Veeva Systems from $285.00 to $235.00 and set an "overweight" rating on the stock in a research note on Thursday, June 4th. Needham & Company LLC restated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Citigroup upped their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Royal Bank Of Canada reiterated an "outperform" rating and set a $275.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $250.96.

Veeva Systems Stock Performance

NYSE VEEV traded up $2.23 during mid-day trading on Tuesday, reaching $194.24. 716,583 shares of the stock were exchanged, compared to its average volume of 2,683,654. The company has a market capitalization of $31.55 billion, a P/E ratio of 34.59, a P/E/G ratio of 0.83 and a beta of 0.94. The business's 50 day moving average is $165.52 and its 200-day moving average is $184.58. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the prior year, the firm posted $1.97 earnings per share. The company's revenue was up 16.3% compared to the same quarter last year. 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. Equities analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

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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