Veeva Systems Inc. $VEEV Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden increased its Veeva Systems stake by 56% in Q1, buying 26,620 more shares and bringing its total holdings to 74,189 shares valued at about $13.0 million.
• Veeva reported strong quarterly results, with EPS of $2.24 and revenue of $882.95 million, both ahead of analyst expectations, while revenue rose 16.3% year over year.
• Analysts remain mostly constructive on the stock, with a consensus Moderate Buy rating and an average price target of $250.96, even as the shares traded slightly lower on the day.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 56.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,189 shares of the technology company's stock after purchasing an additional 26,620 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Veeva Systems were worth $13,032,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Williams Jones Wealth Management LLC. lifted its position 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 acquiring an additional 40 shares in the last quarter. Personal CFO Solutions LLC lifted its holdings in Veeva Systems by 4.3% in the 4th quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company's stock valued at $271,000 after purchasing an additional 50 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in Veeva Systems by 0.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock valued at $1,982,000 after purchasing an additional 51 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Veeva Systems by 8.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock worth $214,000 after purchasing an additional 54 shares during the last quarter. Finally, Northwest Wealth Management LLC boosted its stake in Veeva Systems by 6.1% during the 4th quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company's stock worth $213,000 after purchasing an additional 55 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Down 0.2%

Shares of VEEV stock opened at $192.40 on Friday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The company's 50-day moving average price is $165.52 and its 200-day moving average price is $184.82. The stock has a market cap of $31.25 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 0.83 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup increased their target price on shares of Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $275.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Oppenheimer reiterated an "outperform" rating and issued a $225.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Raymond James Financial reissued an "outperform" rating and issued a $225.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Wells Fargo & Company boosted their target price on Veeva Systems from $317.00 to $320.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $250.96.

Insider Activity at Veeva Systems

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

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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