NorthCrest Asset Manangement LLC Has $16.61 Million Stock Position in Veeva Systems Inc. $VEEV

NorthCrest Asset Manangement LLC boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,245 shares of the technology company’s stock after purchasing an additional 2,810 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Veeva Systems were worth $16,611,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VEEV. ASR Vermogensbeheer N.V. lifted its position in Veeva Systems by 64.2% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 5,167 shares of the technology company’s stock worth $1,488,000 after buying an additional 2,020 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Veeva Systems by 33.7% in the 3rd quarter. Nordea Investment Management AB now owns 523,247 shares of the technology company’s stock valued at $153,099,000 after acquiring an additional 131,974 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of Veeva Systems in the second quarter valued at about $306,000. Orser Capital Management LLC bought a new stake in Veeva Systems during the third quarter worth about $1,631,000. Finally, FORA Capital LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $4,420,000. Institutional investors own 88.20% of the company’s stock.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the transaction, the insider owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.30% of the company’s stock.

Veeva Systems Stock Up 1.5%

Shares of Veeva Systems stock opened at $222.25 on Monday. Veeva Systems Inc. has a 12-month low of $201.54 and a 12-month high of $310.50. The company has a market capitalization of $36.53 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 1.64 and a beta of 1.07. The firm’s 50-day moving average price is $240.03 and its two-hundred day moving average price is $268.89.

Veeva Systems (NYSE:VEEV) last issued its earnings results 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 company had revenue of $0.81 million during the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 EPS. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. On average, sell-side analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems declared that its board has approved a share repurchase program on Monday, January 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VEEV shares. Robert W. Baird upped their price objective on Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Needham & Company LLC reiterated a “buy” rating and set a $355.00 target price on shares of Veeva Systems in a research note on Friday, November 21st. Wall Street Zen downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. The Goldman Sachs Group initiated coverage on Veeva Systems in a report on Tuesday, January 13th. They set a “sell” rating and a $215.00 target price for the company. Finally, BMO Capital Markets initiated coverage on shares of Veeva Systems in a research note on Thursday, November 13th. They issued a “market perform” rating and a $300.00 price target on the stock. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $308.04.

Veeva Systems Company 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.