Varma Mutual Pension Insurance Co Invests $8.53 Million in Veeva Systems Inc. $VEEV

Varma Mutual Pension Insurance Co purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,200 shares of the technology company’s stock, valued at approximately $8,527,000.

Several other hedge funds also recently bought and sold shares of the stock. Sivia Capital Partners LLC grew its holdings in shares of Veeva Systems by 225.9% during the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock worth $899,000 after buying an additional 2,164 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Veeva Systems by 44.5% during the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock worth $1,689,000 after buying an additional 1,806 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Veeva Systems by 34.6% in 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 during the period. Treasurer of the State of North Carolina grew its position in shares of Veeva Systems by 2.2% in 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 during the period. Finally, Diversify Wealth Management LLC grew its position in shares of Veeva Systems by 5.3% in the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock valued at $3,140,000 after purchasing an additional 575 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Canaccord Genuity Group lowered their target price on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a report on Thursday, March 5th. Stifel Nicolaus boosted their target price on shares of Veeva Systems from $212.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, March 5th. UBS Group boosted their target price on shares of Veeva Systems from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Finally, Citigroup downgraded shares of Veeva Systems from a “buy” rating to a “neutral” rating and lowered their target price for the company from $291.00 to $176.00 in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.70.

Veeva Systems Trading Up 0.7%

VEEV stock opened at $171.44 on Wednesday. The stock has a 50-day moving average price of $174.52 and a two-hundred day moving average price of $215.44. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The company has a market cap of $28.00 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. During the same period in the previous year, the firm earned $1.74 earnings per share. Veeva Systems’s revenue for the quarter was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Equities analysts forecast that Veeva Systems Inc. will post 6.41 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the company’s 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 completion of the sale, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.30% of the stock is owned by insiders.

About Veeva Systems

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.