Northwestern Mutual Wealth Management Co. Grows Stake in Veeva Systems Inc. $VEEV

Northwestern Mutual Wealth Management Co. raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 5,423.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,395 shares of the technology company’s stock after purchasing an additional 245,862 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.15% of Veeva Systems worth $55,896,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in VEEV. Sivia Capital Partners LLC raised its position in Veeva Systems by 225.9% in the second 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 increased its position in shares of Veeva Systems by 44.5% during the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock worth $1,689,000 after acquiring an additional 1,806 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Veeva Systems by 34.6% during the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after acquiring an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of 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 worth $19,856,000 after acquiring an additional 1,452 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its position in shares of Veeva Systems by 5.3% during the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock worth $3,140,000 after acquiring an additional 575 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their target price on Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Truist Financial reaffirmed a “buy” rating and set a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Barclays dropped their target price on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Zacks Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.70.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Performance

NYSE:VEEV opened at $159.03 on Monday. The company has a market capitalization of $25.98 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 0.71 and a beta of 0.92. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The stock has a 50-day simple moving average of $171.47 and a 200 day simple moving average of $208.19.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, topping 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 company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm 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. On average, equities research analysts forecast that Veeva Systems Inc. will post 6.41 EPS 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.