Veeva Systems Inc. $VEEV Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 10,109.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 356,920 shares of the technology company’s stock after acquiring an additional 353,424 shares during the period. Thrivent Financial for Lutherans owned about 0.22% of Veeva Systems worth $79,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Jensen Investment Management Inc. raised its position in shares of Veeva Systems by 1,924.5% in the third quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock valued at $123,100,000 after buying an additional 392,802 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in shares of Veeva Systems in the third quarter valued at approximately $422,241,000. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 11.2% in the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock valued at $1,146,040,000 after buying an additional 388,864 shares during the last quarter. Compass Wealth Management LLC acquired a new position in shares of Veeva Systems in the third quarter valued at approximately $18,694,000. Finally, ABN AMRO Bank N.V. acquired a new position in shares of Veeva Systems in the third quarter valued at approximately $246,625,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $159.03 on Friday. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The firm has a 50 day moving average price of $171.47 and a 200 day moving average price of $208.80. The company has a market cap of $25.98 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 0.70 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. During the same period in the previous year, the firm earned $1.74 earnings per share. Veeva Systems’s revenue for the quarter was up 16.0% on a year-over-year basis. 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 predict that Veeva Systems Inc. will post 6.41 EPS for the current year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s 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 completion of the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Oppenheimer lowered their target price on shares of Veeva Systems from $325.00 to $275.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Needham & Company LLC lowered their target price on shares of Veeva Systems from $355.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Citigroup downgraded shares of Veeva Systems from a “buy” rating to a “neutral” rating and lowered their target price for the company from $291.00 to $176.00 in a report on Friday, April 10th. Piper Sandler lowered their target price on shares of Veeva Systems from $355.00 to $285.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Finally, Canaccord Genuity Group lowered their target price on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $278.70.

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.