Veeva Systems Inc. $VEEV Shares Purchased by Legal & General Group Plc

Legal & General Group Plc increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 899,452 shares of the technology company’s stock after buying an additional 25,575 shares during the quarter. Legal & General Group Plc’s holdings in Veeva Systems were worth $259,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VEEV. Trust Co. of Toledo NA OH purchased a new position in shares of Veeva Systems during the second quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Veeva Systems during the 2nd quarter worth $32,000. Maseco LLP acquired a new stake in Veeva Systems during the 2nd quarter worth $35,000. Ameritas Advisory Services LLC purchased a new position in Veeva Systems during the 2nd quarter worth $68,000. Finally, ORG Partners LLC increased its stake in Veeva Systems by 176.3% in the second quarter. ORG Partners LLC now owns 315 shares of the technology company’s stock valued at $89,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VEEV. Robert W. Baird increased their target price on shares of Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a research note on Friday. TD Cowen raised Veeva Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $297.00 to $380.00 in a research note on Tuesday, October 7th. Truist Financial lifted their target price on Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Veeva Systems in a report on Wednesday, October 8th. Finally, Barclays cut their price target on Veeva Systems from $325.00 to $305.00 and set an “overweight” rating for the company in a research note on Friday. Seventeen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.84.

Veeva Systems Trading Down 9.8%

Shares of VEEV stock opened at $243.98 on Friday. The stock has a 50 day simple moving average of $287.74 and a 200-day simple moving average of $278.84. The company has a market cap of $39.99 billion, a price-to-earnings ratio of 50.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a 12-month low of $201.54 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. The firm had revenue of $811.24 million for the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.Veeva Systems’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.75 earnings per share. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS. Q4 2026 guidance at 1.920-1.920 EPS. On average, equities analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 6,000 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the transaction, the insider directly owned 25,325 shares in the company, valued at approximately $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the completion of the transaction, the insider directly owned 23,773 shares of the company’s stock, valued at approximately $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,665 shares of company stock worth $7,438,000 in the last 90 days. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.