Norges Bank Takes $332.41 Million Position in Veeva Systems Inc. $VEEV

Norges Bank acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,489,103 shares of the technology company’s stock, valued at approximately $332,412,000. Norges Bank owned 0.91% of Veeva Systems at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Veeva Systems by 3.1% in the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after buying an additional 457,806 shares during the period. Alliancebernstein L.P. increased its stake in shares of Veeva Systems by 4.1% in the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after buying an additional 235,983 shares during the period. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company’s stock valued at $863,978,000 after buying an additional 23,416 shares during the period. State Street Corp increased its stake in shares of Veeva Systems by 2.2% in the third quarter. State Street Corp now owns 3,503,730 shares of the technology company’s stock valued at $1,043,796,000 after buying an additional 76,397 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Veeva Systems by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock valued at $1,035,622,000 after buying an additional 159,984 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $188.90 on Tuesday. The stock has a market capitalization of $30.85 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 0.77 and a beta of 0.95. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The stock’s 50 day moving average price is $166.44 and its two-hundred day moving average price is $198.31.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm had revenue of $835.95 million for the quarter, compared to analysts’ expectations of $810.95 million. During the same period in the prior year, the business earned $1.74 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. 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 6.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VEEV shares. Morgan Stanley increased their target price on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Stifel Nicolaus increased their target price on shares of Veeva Systems from $212.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Royal Bank Of Canada decreased their target price on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Wells Fargo & Company decreased their target price on shares of Veeva Systems from $333.00 to $317.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Finally, Canaccord Genuity Group decreased their target price on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, March 5th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.52.

Insider Transactions at Veeva Systems

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

Veeva Systems Company 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.