Swiss Life Asset Management Ltd Has $12.65 Million Position in Veeva Systems Inc. $VEEV

Swiss Life Asset Management Ltd boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 25.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,445 shares of the technology company’s stock after acquiring an additional 8,582 shares during the period. Swiss Life Asset Management Ltd’s holdings in Veeva Systems were worth $12,645,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alphinity Investment Management Pty Ltd acquired a new position in shares of Veeva Systems in the third quarter valued at $422,241,000. Norges Bank acquired a new stake in shares of Veeva Systems during the 2nd quarter worth about $384,265,000. Durable Capital Partners LP acquired a new stake in shares of Veeva Systems during the 2nd quarter worth about $281,351,000. AQR Capital Management LLC boosted its holdings in shares of Veeva Systems by 111.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock worth $526,508,000 after buying an additional 969,905 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of Veeva Systems by 1,039.4% during the 2nd quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock worth $292,292,000 after buying an additional 925,896 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VEEV shares. The Goldman Sachs Group began coverage on shares of Veeva Systems in a report on Tuesday, January 13th. They issued a “sell” rating and a $215.00 price target on the stock. Robert W. Baird boosted their price objective on Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Piper Sandler decreased their target price on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Wells Fargo & Company lowered their target price on Veeva Systems from $333.00 to $317.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Finally, BTIG Research reissued a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a report on Friday, November 21st. Seventeen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $283.70.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the transaction, the insider owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.30% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $184.16 on Friday. Veeva Systems Inc. has a 52-week low of $168.13 and a 52-week high of $310.50. The business’s fifty day moving average is $194.75 and its 200-day moving average is $240.76. The firm has a market cap of $30.27 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 1.23 and a beta of 1.09.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data 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. The business had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.Veeva Systems’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.74 EPS. 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, research analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is 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.