PFA Pension Forsikringsaktieselskab Invests $10.60 Million in Veeva Systems Inc. $VEEV

PFA Pension Forsikringsaktieselskab bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 47,196 shares of the technology company’s stock, valued at approximately $10,602,000.

Several other institutional investors also recently modified their holdings of VEEV. GPS Wealth Strategies Group LLC grew its position in shares of Veeva Systems by 196.4% during the 3rd 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 during the period. Board of the Pension Protection Fund acquired a new position in shares of Veeva Systems during the 4th quarter worth about $27,000. Raiffeisen Bank International AG bought a new position in shares of Veeva Systems during the 3rd quarter valued at about $28,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. Finally, Activest Wealth Management lifted its holdings in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 127 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. Citigroup cut Veeva Systems from a “buy” rating to a “neutral” rating and cut their price objective for the company from $291.00 to $176.00 in a report on Friday, April 10th. UBS Group lifted 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. Barclays cut their price objective on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, Zacks Research upgraded Veeva Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $278.70.

Veeva Systems Stock Performance

NYSE VEEV opened at $171.70 on Monday. The stock has a market capitalization of $28.04 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 0.77 and a beta of 0.93. The stock’s 50 day moving average price is $174.70 and its two-hundred day moving average price is $216.26. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $835.95 million for the quarter, compared to analysts’ expectations of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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. On average, equities research analysts forecast that Veeva Systems Inc. will post 6.41 EPS for the current year.

Veeva Systems announced that its board has approved a stock buyback plan on Monday, January 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $153.50, for a total value of $115,125.00. Following the sale, the director owned 4,003 shares in the company, valued at approximately $614,460.50. The trade was a 15.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.30% of the company’s stock.

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.