Lansforsakringar Fondforvaltning AB publ Buys 27,678 Shares of Veeva Systems Inc. $VEEV

Lansforsakringar Fondforvaltning AB publ increased its position in Veeva Systems Inc. (NYSE:VEEV) by 57.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,916 shares of the technology company’s stock after acquiring an additional 27,678 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Veeva Systems were worth $13,335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sivia Capital Partners LLC raised its position in shares of Veeva Systems by 225.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after buying an additional 2,164 shares in the last quarter. Bank of Nova Scotia increased its stake in Veeva Systems by 44.5% in the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after acquiring an additional 1,806 shares during the last quarter. NewEdge Advisors LLC raised its position in Veeva Systems by 34.6% during the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock valued at $2,543,000 after purchasing an additional 2,272 shares in the last quarter. Treasurer of the State of North Carolina raised its position in 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 valued at $19,856,000 after purchasing an additional 1,452 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its stake in 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 purchasing an additional 575 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. William Blair restated an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Truist Financial reaffirmed a “buy” rating and issued a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Robert W. Baird increased their price target on shares of Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Finally, Zacks Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $250.96.

Veeva Systems Trading Up 3.9%

VEEV opened at $184.45 on Thursday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The business’s 50-day moving average price is $164.44 and its 200-day moving average price is $184.98. The company has a market cap of $29.96 billion, a P/E ratio of 32.88, a P/E/G ratio of 0.76 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same period last year, the company earned $1.97 EPS. Veeva Systems’s revenue for the quarter was up 16.3% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Equities research analysts forecast that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the firm’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 value of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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.