Veeva Systems Inc. $VEEV Shares Bought by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management raised its stake in Veeva by 14.2% in Q4, buying 137,965 shares to own 1,110,075 shares (about 0.68% of the company) valued at roughly $247.8 million.
• Veeva beat Q4 estimates with $2.06 EPS (vs. $1.94) and revenue of $835.95M (up 16% YoY), provided FY2027 guidance (~8.85 EPS) and launched a $2.0 billion share repurchase program (~5.5% of shares outstanding).
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $278.70, while the stock trades near $161 with a market cap of about $26.3 billion and a P/E of ~29.8.

Pictet Asset Management Holding SA raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,110,075 shares of the technology company's stock after buying an additional 137,965 shares during the period. Pictet Asset Management Holding SA owned about 0.68% of Veeva Systems worth $247,817,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jensen Investment Management Inc. boosted its holdings in Veeva Systems by 1,924.5% in the 3rd quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company's stock worth $123,100,000 after buying an additional 392,802 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 11.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company's stock worth $1,146,040,000 after buying an additional 388,864 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in Veeva Systems in the 3rd quarter worth about $422,241,000. Compass Wealth Management LLC acquired a new stake in Veeva Systems in the 3rd quarter worth about $18,694,000. Finally, ABN AMRO Bank N.V. acquired a new stake in Veeva Systems in the 3rd quarter worth about $246,625,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

VEEV opened at $161.07 on Monday. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The stock has a market capitalization of $26.31 billion, a PE ratio of 29.77, a P/E/G ratio of 0.72 and a beta of 1.10. The business's 50 day moving average price is $176.33 and its 200 day moving average price is $219.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm had revenue of $835.95 million for the quarter, compared to analysts' expectations of $810.95 million. During the same period in the prior year, the firm posted $1.74 earnings per share. The firm's quarterly 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. As a group, equities research analysts forecast that Veeva Systems Inc. will post 6.41 earnings per share for the current fiscal year.

Veeva Systems announced that its Board of Directors has initiated a share repurchase 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 buy up to 5.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of the company's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $153.50, for a total value of $115,125.00. Following the transaction, the director directly owned 4,003 shares in the company, valued at approximately $614,460.50. This represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Veeva Systems from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. Barclays lowered their target price on Veeva Systems from $305.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Zacks Research upgraded Veeva Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Stifel Nicolaus boosted their target price on Veeva Systems from $212.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Finally, Weiss Ratings cut Veeva Systems from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, January 12th. 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 issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $278.70.

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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