Nordea Investment Management AB Buys 131,974 Shares of Veeva Systems Inc. $VEEV

Nordea Investment Management AB raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 33.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 523,247 shares of the technology company’s stock after buying an additional 131,974 shares during the quarter. Nordea Investment Management AB’s holdings in Veeva Systems were worth $153,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ASR Vermogensbeheer N.V. grew its stake in shares of Veeva Systems by 64.2% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 5,167 shares of the technology company’s stock valued at $1,488,000 after purchasing an additional 2,020 shares during the period. Stevens Capital Management LP bought a new position in shares of Veeva Systems in the 2nd quarter worth approximately $306,000. Orser Capital Management LLC purchased a new position in shares of Veeva Systems in the third quarter worth approximately $1,631,000. FORA Capital LLC purchased a new position in shares of Veeva Systems in the second quarter worth approximately $4,420,000. Finally, QRG Capital Management Inc. grew its position in Veeva Systems by 15.7% during the second quarter. QRG Capital Management Inc. now owns 12,771 shares of the technology company’s stock valued at $3,678,000 after buying an additional 1,735 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

Shares of VEEV stock opened at $228.47 on Wednesday. Veeva Systems Inc. has a one year low of $201.54 and a one year high of $310.50. The company’s fifty day moving average price is $244.46 and its 200-day moving average price is $270.25. The company has a market capitalization of $37.56 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 1.72 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. The business had revenue of $0.81 million during the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.Veeva Systems’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.75 EPS. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. Equities research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems declared that its board has approved a share buyback program on Monday, January 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on VEEV. Barclays decreased their price target on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Citigroup reduced their price objective on Veeva Systems from $349.00 to $319.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $330.00 target price on shares of Veeva Systems in a report on Monday, November 24th. BTIG Research reissued a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a report on Friday, November 21st. Finally, UBS Group reduced their price target on Veeva Systems from $310.00 to $280.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $308.04.

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.