Norges Bank bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) during the fourth quarter, Holdings Channel reports. The firm bought 1,489,103 shares of the technology company’s stock, valued at approximately $332,412,000.
Other hedge funds also recently made changes to their positions in the company. Raiffeisen Bank International AG bought a new stake in shares of Veeva Systems during the 3rd quarter worth $28,000. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems during the 4th quarter worth $27,000. Newbridge Financial Services Group Inc. raised its stake in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Activest Wealth Management raised its stake in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 127 shares during the period. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Veeva Systems during the 4th quarter worth $33,000. 88.20% of the stock is currently owned by institutional investors.
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 transaction of $116,730.00. Following the sale, the director directly owned 3,253 shares in the company, 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 SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Research Report on Veeva Systems
Veeva Systems Stock Performance
Shares of Veeva Systems stock opened at $188.90 on Tuesday. The stock’s 50-day simple moving average is $166.44 and its 200 day simple moving average is $198.31. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The stock 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.
Veeva Systems (NYSE:VEEV – Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, beating the consensus estimate 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 posted $1.74 earnings per share. The company’s revenue 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 research analysts forecast that Veeva Systems Inc. will post 6.45 EPS for the current fiscal year.
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.
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