Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Veeva Systems Inc. $VEEV

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,972 shares of the technology company’s stock after buying an additional 6,059 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Veeva Systems were worth $32,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC increased its stake in shares of Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after acquiring an additional 55 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of Veeva Systems in the third quarter worth $28,000. Board of the Pension Protection Fund acquired a new stake in shares of Veeva Systems in the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. increased its stake in shares of Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Finally, Activest Wealth Management increased its stake in shares of Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the sale, the director owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VEEV. The Goldman Sachs Group began coverage on shares of Veeva Systems in a research note on Tuesday, January 13th. They issued a “sell” rating and a $215.00 price objective on the stock. Citigroup lowered shares of Veeva Systems from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $291.00 to $176.00 in a research note on Friday, April 10th. TD Cowen cut their price objective on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Needham & Company LLC cut their price objective on shares of Veeva Systems from $355.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, Barclays cut their price objective on shares of Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $278.70.

Veeva Systems Stock Down 1.2%

Shares of NYSE VEEV opened at $166.21 on Friday. The company’s 50-day simple moving average is $174.27 and its 200-day simple moving average is $213.74. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The firm has a market cap of $27.15 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 0.74 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last announced its 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 net margin of 28.44% and a return on equity of 13.80%. The business had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same quarter last year, the business earned $1.74 earnings per share. The company’s revenue for the quarter 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. Equities research analysts anticipate that Veeva Systems Inc. will post 6.41 EPS for the current fiscal 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.