29,329 Shares in Veeva Systems Inc. $VEEV Acquired by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,329 shares of the technology company’s stock, valued at approximately $8,372,000. Veeva Systems comprises 2.2% of Pensioenfonds Rail & OV’s investment portfolio, making the stock its 14th largest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Aberdeen Group plc boosted its holdings in Veeva Systems by 1,513.8% during the third quarter. Aberdeen Group plc now owns 2,029,943 shares of the technology company’s stock worth $579,447,000 after buying an additional 1,904,153 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Veeva Systems by 7.4% in the third quarter. Allworth Financial LP now owns 3,587 shares of the technology company’s stock valued at $1,024,000 after buying an additional 247 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at $207,000. Nikulski Financial Inc. acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at $1,272,000. Finally, Maryland State Retirement & Pension System boosted its stake in shares of Veeva Systems by 13.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 9,285 shares of the technology company’s stock worth $2,650,000 after acquiring an additional 1,127 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent research reports. Raymond James Financial lifted their target price on Veeva Systems from $225.00 to $330.00 in a report on Thursday, August 27th. Citigroup upped their target price on Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a report on Friday, August 28th. BTIG Research increased their price target on Veeva Systems from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, November 9th. TD Cowen lifted their price target on Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Finally, Royal Bank Of Canada boosted their price objective on Veeva Systems from $325.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $317.42.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the transaction, the insider directly owned 19,449 shares of the company’s stock, valued at approximately $5,471,587.17. The trade was a 33.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the transaction, the director directly owned 3,242 shares in the company, valued at $846,291.68. The trade was a 18.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,789 shares of company stock worth $5,905,609 over the last quarter. Company insiders own 10.60% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock traded down $0.93 on Friday, reaching $301.49. 750,106 shares of the company’s stock traded hands, compared to its average volume of 1,425,373. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $325.99. The company has a market capitalization of $48.81 billion, a P/E ratio of 49.59, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89. The business’s 50 day moving average price is $291.52 and its two-hundred day moving average price is $214.01.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The firm had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same period in the prior year, the business earned $1.99 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. Research analysts predict that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Veeva Systems Profile

Veeva Systems Inc. develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations. The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.