Zurcher Kantonalbank Zurich Cantonalbank Purchases 11,169 Shares of Veeva Systems Inc. $VEEV

Key Points

• Zurcher Kantonalbank increased its Veeva Systems stake by 6.8%, buying 11,169 shares to hold 175,610 shares (about 0.11% of the company) valued at roughly $39.2 million at quarter-end.
• Veeva beat Q4 estimates with $2.06 EPS vs. $1.94 expected and revenue of $835.95 million (up 16% year-over-year), while issuing FY2027 EPS guidance around 8.85 and Q1 2027 guidance of 2.13–2.14.
• The board authorized a $2.0 billion share buyback program to repurchase up to about 5.5% of outstanding shares, signaling confidence in the stock's valuation.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 175,610 shares of the technology company's stock after buying an additional 11,169 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.11% of Veeva Systems worth $39,201,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of VEEV. Sivia Capital Partners LLC grew its stake in Veeva Systems by 225.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company's stock valued at $899,000 after purchasing an additional 2,164 shares during the period. Bank of Nova Scotia raised its stake in shares of Veeva Systems by 44.5% during the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company's stock worth $1,689,000 after purchasing an additional 1,806 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Veeva Systems by 34.6% in the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company's stock worth $2,543,000 after buying an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina grew its position in Veeva Systems by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company's stock valued at $19,856,000 after buying an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC grew its position in Veeva Systems by 5.3% during the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company's stock valued at $3,140,000 after buying an additional 575 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Up 0.5%

Shares of NYSE:VEEV opened at $168.83 on Tuesday. The firm has a market capitalization of $27.58 billion, a PE ratio of 31.21, a P/E/G ratio of 1.10 and a beta of 1.10. The company has a 50-day moving average price of $177.57 and a two-hundred day moving average price of $223.89. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Analysts anticipate that Veeva Systems Inc. will post 6.41 earnings per share for the current fiscal year.

Veeva Systems announced that its board has initiated a share repurchase plan on Monday, January 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 5.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction on Friday, April 10th. The shares were 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 $614,460.50. The trade was a 15.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen lowered shares of Veeva Systems from a "buy" rating to a "hold" rating in a research report on Sunday, March 22nd. TD Cowen decreased their price target on shares of Veeva Systems from $380.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. William Blair reaffirmed an "outperform" rating on shares of Veeva Systems in a report on Tuesday, March 10th. Piper Sandler dropped their price objective on Veeva Systems from $355.00 to $285.00 and set an "overweight" rating on the stock in a research note on Thursday, March 5th. Finally, UBS Group increased their price objective on Veeva Systems from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $278.70.

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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