Principal Financial Group Inc. Boosts Stock Holdings in Veeva Systems Inc. $VEEV

Principal Financial Group Inc. lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,141,545 shares of the technology company’s stock after purchasing an additional 271,252 shares during the period. Principal Financial Group Inc. owned about 2.54% of Veeva Systems worth $727,513,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its position in shares of Veeva Systems by 11.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock worth $199,137,000 after purchasing an additional 90,703 shares during the last quarter. Empire Life Investments Inc. increased its holdings in Veeva Systems by 21.1% in the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock valued at $8,272,000 after buying an additional 6,453 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Veeva Systems by 217.2% in the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock valued at $2,337,000 after buying an additional 7,169 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Veeva Systems by 14.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock valued at $247,817,000 after buying an additional 137,965 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Veeva Systems by 180.2% during the 4th quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock worth $44,900,000 after buying an additional 129,346 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VEEV shares. BNP Paribas Exane reiterated an “outperform” rating and issued a $285.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Mizuho lowered their price target on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. BMO Capital Markets dropped their price target on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating on the stock in a research note on Thursday, June 4th. Zacks Research cut shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Barclays reduced their price objective on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $247.74.

Veeva Systems Trading Up 3.7%

Shares of VEEV opened at $197.16 on Tuesday. The company’s 50 day simple moving average is $169.51 and its 200-day simple moving average is $183.36. The firm has a market cap of $32.03 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. Veeva Systems’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. As a group, equities research analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director owned 3,253 shares in the company, valued at approximately $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 accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

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.