AustralianSuper Pty Ltd Makes New Investment in Veeva Systems Inc. $VEEV

AustralianSuper Pty Ltd purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, Holdings Channel reports. The firm purchased 10,988 shares of the technology company’s stock, valued at approximately $2,453,000.

Other hedge funds also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its position in Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after buying an additional 55 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in Veeva Systems during the third quarter worth $28,000. Board of the Pension Protection Fund purchased a new position in Veeva Systems during the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. increased its position in Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Finally, Activest Wealth Management increased its position in Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays dropped their price target on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Truist Financial reissued a “buy” rating and set a $262.00 price target (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Canaccord Genuity Group dropped their price target on Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, March 5th. Morgan Stanley lifted their price objective on Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $278.70.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 1.8%

Shares of NYSE:VEEV opened at $159.03 on Friday. The company has a market cap of $25.98 billion, a P/E ratio of 29.40, a P/E/G ratio of 0.70 and a beta of 0.92. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The business has a fifty day simple moving average of $171.47 and a 200-day simple moving average of $208.80.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates 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 13.80% and a net margin of 28.44%.The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Sell-side analysts expect that Veeva Systems Inc. will post 6.41 earnings per share for the current fiscal year.

Veeva Systems 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.