Forsta AP Fonden Sells 9,920 Shares of Veeva Systems Inc. $VEEV

Forsta AP Fonden decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 22.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 34,280 shares of the technology company’s stock after selling 9,920 shares during the quarter. Forsta AP Fonden’s holdings in Veeva Systems were worth $7,652,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Board of the Pension Protection Fund purchased a new position in Veeva Systems in the 4th quarter worth about $27,000. Raiffeisen Bank International AG purchased a new position in Veeva Systems in the 3rd quarter worth about $28,000. Newbridge Financial Services Group Inc. raised its position in Veeva Systems by 322.6% in the 4th 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 during the last quarter. Activest Wealth Management raised its position in Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 127 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. purchased a new position in Veeva Systems in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Veeva Systems Stock Performance

NYSE VEEV opened at $188.90 on Tuesday. The company has a market capitalization of $30.85 billion, a P/E ratio of 34.92, a P/E/G ratio of 0.77 and a beta of 0.95. The stock has a 50 day moving average price of $166.44 and a 200-day moving average price of $198.31. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share 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 business had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same quarter last year, the firm posted $1.74 earnings per share. The business’s revenue 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. As a group, equities analysts predict that Veeva Systems Inc. will post 6.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent analyst reports. Citigroup lowered Veeva Systems from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $291.00 to $176.00 in a research report on Friday, April 10th. Stifel Nicolaus upped their price target 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. UBS Group upped their price target on shares of Veeva Systems from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Needham & Company LLC reduced their price target on shares of Veeva Systems from $355.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Finally, Truist Financial reaffirmed 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. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.52.

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.