Norges Bank Purchases Shares of 1,334,345 Veeva Systems Inc. $VEEV

Norges Bank acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,334,345 shares of the technology company’s stock, valued at approximately $384,265,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in VEEV. Nuveen LLC bought a new stake in Veeva Systems in the 1st quarter valued at about $365,684,000. Price T Rowe Associates Inc. MD boosted its holdings in Veeva Systems by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock worth $924,754,000 after acquiring an additional 689,700 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Veeva Systems by 423.8% in the second quarter. Los Angeles Capital Management LLC now owns 841,303 shares of the technology company’s stock valued at $242,278,000 after acquiring an additional 680,702 shares during the period. Linonia Partnership LP grew its stake in Veeva Systems by 52.7% in the first quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company’s stock valued at $425,402,000 after acquiring an additional 633,585 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Veeva Systems by 48.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,799,931 shares of the technology company’s stock valued at $416,918,000 after acquiring an additional 585,785 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV opened at $240.30 on Monday. Veeva Systems Inc. has a fifty-two week low of $201.54 and a fifty-two week high of $310.50. The firm has a market capitalization of $39.39 billion, a P/E ratio of 49.34, a PEG ratio of 2.22 and a beta of 0.98. The company’s 50-day moving average is $284.10 and its 200 day moving average is $279.13.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.95 by $0.09. The firm had revenue of $811.24 million during the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $1.75 EPS. 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 research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VEEV shares. Stifel Nicolaus increased their target price on Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Piper Sandler upped their price objective on shares of Veeva Systems from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Wells Fargo & Company reduced their price objective on shares of Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. Evercore ISI boosted their target price on shares of Veeva Systems from $285.00 to $295.00 and gave the stock an “in-line” rating in a research report on Thursday, August 28th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $330.00 target price on shares of Veeva Systems in a report on Monday, November 24th. Twenty investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $305.88.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 3,350 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the completion of the transaction, the insider owned 23,773 shares in the company, valued at $7,132,850.92. This represents a 12.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value of $1,839,720.00. Following the sale, the insider owned 25,325 shares in the company, valued at $7,765,151.50. The trade was a 19.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 24,665 shares of company stock valued at $7,438,000. Insiders own 10.30% of the company’s stock.

About Veeva Systems

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.