Northwestern Mutual Wealth Management Co. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 5,423.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,395 shares of the technology company’s stock after purchasing an additional 245,862 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Veeva Systems were worth $55,896,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC boosted its position in shares of Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after buying an additional 55 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Veeva Systems during the fourth quarter worth approximately $27,000. Raiffeisen Bank International AG acquired a new position in shares of Veeva Systems during the third quarter worth approximately $28,000. Newbridge Financial Services Group Inc. boosted its position in shares of Veeva Systems by 322.6% during the fourth 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 period. Finally, Activest Wealth Management boosted its position in shares of Veeva Systems by 3,175.0% during the fourth 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 period. 88.20% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on VEEV shares. TD Cowen reduced their price objective on Veeva Systems from $380.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Zacks Research downgraded Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Barclays reduced their price objective on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, Truist Financial reiterated a “buy” rating and set a $262.00 price objective (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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $278.70.
Insider Activity
In other news, Director Priscilla Hung sold 750 shares of the stock in a transaction on 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 in the company, valued at $506,296.92. This represents 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.
Veeva Systems Stock Performance
NYSE VEEV opened at $159.03 on Monday. The stock has a market capitalization of $25.98 billion, a P/E ratio of 29.40, a P/E/G ratio of 0.71 and a beta of 0.92. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The business’s fifty day moving average is $171.47 and its two-hundred day moving average is $208.19.
Veeva Systems (NYSE:VEEV – Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) 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 company had revenue of $835.95 million for the quarter, compared to analysts’ expectations of $810.95 million. During the same quarter in the prior year, the company earned $1.74 earnings per share. The firm’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. On average, research analysts forecast that Veeva Systems Inc. will post 6.41 earnings per share for the current year.
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.
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