Veeva Systems Inc. $VEEV Shares Purchased by Citizens Business Bank

Key Points

• Citizens Business Bank boosted its stake in Veeva by 2,047.5% in Q4, acquiring an additional 20,639 shares and owning 21,647 shares worth about $4.83 million at quarter-end.
• Veeva reported Q results that beat estimates—$2.06 EPS vs. $1.94 expected and $835.95M revenue (up 16% YoY)—and set FY2027 guidance near 8.85 EPS with Q1 guidance of about 2.13–2.14 EPS.
• The board authorized a $2.00 billion share buyback (up to ~5.5% of shares), while analysts' consensus is a “Moderate Buy” with a $278.70 average price target.

Citizens Business Bank increased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2,047.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,647 shares of the technology company's stock after acquiring an additional 20,639 shares during the period. Citizens Business Bank's holdings in Veeva Systems were worth $4,832,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC boosted its stake in shares of Veeva Systems by 0.3% in the 3rd 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 during the period. Personal CFO Solutions LLC boosted its stake in shares of Veeva Systems by 3.5% in the 3rd 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 during the period. AFT Forsyth & Company Inc. boosted its stake in shares of Veeva Systems by 4.2% in the 3rd 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 during the period. Williams Jones Wealth Management LLC. boosted its stake in shares of Veeva Systems by 0.4% in the 3rd 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 during the period. Finally, Apollon Wealth Management LLC boosted its stake in shares of Veeva Systems by 1.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,905 shares of the technology company's stock valued at $865,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VEEV shares. Canaccord Genuity Group decreased their price objective on Veeva Systems from $280.00 to $235.00 and set a "hold" rating for the company in a research note on Thursday, March 5th. Stifel Nicolaus lifted their price objective on Veeva Systems from $212.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Royal Bank Of Canada decreased their price objective on Veeva Systems from $330.00 to $275.00 and set an "outperform" rating for the company in a research note on Thursday, March 5th. Piper Sandler decreased their price objective on Veeva Systems from $355.00 to $285.00 and set an "overweight" rating for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings cut Veeva Systems from a "buy (b-)" rating to a "hold (c+)" rating in a research note 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $278.70.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the firm'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 sale, the director owned 4,003 shares of the company's stock, valued at approximately $614,460.50. This trade represents a 15.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.30% of the company's stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $155.92 on Friday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The firm has a market capitalization of $25.47 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. The stock's 50-day simple moving average is $174.70 and its 200-day simple moving average is $217.25.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results 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 return on equity of 13.80% and a net margin of 28.44%.The business had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same quarter last year, the company earned $1.74 EPS. The business'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. On average, sell-side 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 authorized a stock repurchase program on Monday, January 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board 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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