Schroder Investment Management Group Boosts Holdings in Veeva Systems Inc. $VEEV

Schroder Investment Management Group lifted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 19.8% in the third quarter, HoldingsChannel reports. The fund owned 1,216,202 shares of the technology company’s stock after buying an additional 201,228 shares during the period. Schroder Investment Management Group’s holdings in Veeva Systems were worth $356,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in VEEV. Alphinity Investment Management Pty Ltd bought a new stake in Veeva Systems in the third quarter worth $422,241,000. Norges Bank bought a new position in shares of Veeva Systems during the second quarter valued at about $384,265,000. Durable Capital Partners LP purchased a new position in shares of Veeva Systems in the second quarter worth about $281,351,000. AQR Capital Management LLC increased its holdings in shares of Veeva Systems by 111.7% in the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock worth $526,508,000 after buying an additional 969,905 shares during the period. Finally, ABN AMRO Bank N.V. bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $246,625,000. Institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the sale, the insider owned 23,204 shares in the company, valued at $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VEEV shares. Canaccord Genuity Group reduced their price target on Veeva Systems from $280.00 to $235.00 and set a “hold” rating on the stock in a research report on Thursday. Piper Sandler lowered their price objective on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating for the company in a research report on Thursday. Oppenheimer dropped their price objective on Veeva Systems from $325.00 to $275.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. 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. Finally, The Goldman Sachs Group assumed coverage on shares of Veeva Systems in a report on Tuesday, January 13th. They set a “sell” rating and a $215.00 price target for the company. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.91.

Veeva Systems Price Performance

VEEV opened at $195.89 on Monday. Veeva Systems Inc. has a one year low of $168.13 and a one year high of $310.50. The business has a 50 day simple moving average of $203.47 and a two-hundred day simple moving average of $246.91. The firm has a market capitalization of $32.20 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.35 and a beta of 1.09.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The firm had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same period last year, the company earned $1.74 EPS. The business’s quarterly revenue 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. As a group, sell-side analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems declared that its Board of Directors has initiated a stock repurchase plan on Monday, January 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Veeva Systems 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.