Veeva Systems Inc. $VEEV Shares Sold by Andra AP fonden

Key Points

• Andra AP fonden reduced its Veeva Systems stake by 22.4% in the second quarter, selling 18,540 shares and retaining 64,377 shares worth approximately $11.4 million. Institutional investors and hedge funds collectively own 88.2% of Veeva’s stock.
• Veeva reported quarterly earnings of $2.35 per share, exceeding the $2.23 consensus estimate, while revenue rose 17.6% year over year to $927.96 million.
• Wall Street maintains a generally positive view, with 19 buy ratings, eight holds and one sell rating; the average price target is $284.88, versus a share price of $261.81.

Andra AP fonden cut its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 22.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,377 shares of the technology company's stock after selling 18,540 shares during the quarter. Andra AP fonden's holdings in Veeva Systems were worth $11,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VEEV. SHP Wealth Management acquired a new position in Veeva Systems during the 4th quarter valued at about $26,000. Compass Financial Management LLC bought a new stake in shares of Veeva Systems in the 2nd quarter worth approximately $27,000. Arlington Trust Co LLC bought a new stake in shares of Veeva Systems in the 2nd quarter worth approximately $29,000. Field & Main Bank acquired a new stake in Veeva Systems during the second quarter valued at approximately $29,000. Finally, MV Capital Management Inc. acquired a new position in Veeva Systems in the fourth quarter worth approximately $30,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $261.81 on Wednesday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The business has a 50 day simple moving average of $238.53 and a 200 day simple moving average of $195.11. The stock has a market cap of $42.39 billion, a price-to-earnings ratio of 43.06, a PEG ratio of 1.11 and a beta of 0.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.The company's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.99 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. On average, analysts predict that Veeva Systems Inc. will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VEEV shares. Truist Financial increased their price objective on Veeva Systems from $262.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Wells Fargo & Company reiterated an "overweight" rating and issued a $330.00 price target on shares of Veeva Systems in a research report on Tuesday, September 8th. BNP Paribas Exane reissued an "outperform" rating and issued a $285.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. BTIG Research reaffirmed a "buy" rating and set a $340.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, BMO Capital Markets raised their target price on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a "market perform" rating in a report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $284.88.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 10,000 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $281.33, for a total value of $2,813,300.00. Following the sale, the insider owned 19,449 shares of the company's stock, valued at $5,471,587.17. The trade was a 33.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the transaction, the director directly owned 3,242 shares of the company's stock, valued at $846,291.68. This trade represents a 18.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 46,750 shares of company stock worth $12,017,360. 10.60% of the stock is owned by company insiders.

Veeva Systems Profile

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company's Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.

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