Zevenbergen Capital Investments LLC Lowers Stock Holdings in Veeva Systems Inc. $VEEV

Zevenbergen Capital Investments LLC cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 24.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 149,654 shares of the technology company’s stock after selling 48,621 shares during the period. Zevenbergen Capital Investments LLC owned 0.09% of Veeva Systems worth $33,407,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mn Services Vermogensbeheer B.V. increased its stake in Veeva Systems by 1.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 59,268 shares of the technology company’s stock valued at $13,230,000 after purchasing an additional 868 shares during the last quarter. Private Advisory Group LLC acquired a new stake in Veeva Systems in the 4th quarter worth about $229,000. Trust Co. of Oklahoma grew its holdings in Veeva Systems by 22.2% in the 4th quarter. Trust Co. of Oklahoma now owns 1,154 shares of the technology company’s stock valued at $258,000 after buying an additional 210 shares during the period. Clarius Group LLC acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $292,000. Finally, Centurion Wealth Management LLC increased its stake in shares of Veeva Systems by 12.7% during the 4th quarter. Centurion Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $327,000 after acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the sale, the insider directly owned 23,204 shares in the company, valued at approximately $5,370,101.72. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 10.30% of the company’s stock.

Veeva Systems Stock Performance

NYSE VEEV opened at $175.73 on Tuesday. The firm has a market capitalization of $28.70 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 1.14 and a beta of 1.09. Veeva Systems Inc. has a one year low of $168.13 and a one year high of $310.50. The company’s 50 day moving average price is $189.27 and its 200 day moving average price is $236.15.

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 analyst estimates of $810.95 million. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Sell-side analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its board has initiated a share repurchase plan on Monday, January 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. cut their price target on shares of Veeva Systems from $330.00 to $296.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Piper Sandler decreased their price target on shares of Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Morgan Stanley boosted their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Finally, Canaccord Genuity Group cut their target price on Veeva Systems from $280.00 to $235.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $283.70.

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.