Invesco Ltd. Grows Position in Veeva Systems Inc. $VEEV

Invesco Ltd. raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 60.4% during the second quarter, HoldingsChannel reports. The firm owned 286,374 shares of the technology company’s stock after purchasing an additional 107,847 shares during the quarter. Invesco Ltd.’s holdings in Veeva Systems were worth $82,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in VEEV. Norges Bank acquired a new position in shares of Veeva Systems in the 2nd quarter valued at $384,265,000. Schroder Investment Management Group increased its holdings in shares of Veeva Systems by 1,039.4% in the second quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock valued at $292,292,000 after purchasing an additional 925,896 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $924,754,000 after purchasing an additional 689,700 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of 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 worth $242,278,000 after purchasing an additional 680,702 shares during the last quarter. Finally, Linonia Partnership LP lifted its holdings in shares of Veeva Systems by 52.7% during the first quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company’s stock worth $425,402,000 after purchasing an additional 633,585 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 3.0%

NYSE:VEEV opened at $231.76 on Wednesday. The stock has a market capitalization of $38.10 billion, a PE ratio of 45.09, a price-to-earnings-growth ratio of 1.78 and a beta of 1.05. Veeva Systems Inc. has a 52 week low of $201.54 and a 52 week high of $310.50. The stock’s 50-day moving average price is $277.63 and its 200-day moving average price is $279.18.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. During the same quarter in the prior year, the business posted $1.75 earnings per share. Veeva Systems’s revenue for the quarter was up 16.0% on a year-over-year basis. 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. Sell-side analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Veeva Systems from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Needham & Company LLC reissued a “buy” rating and set a $355.00 target price on shares of Veeva Systems in a report on Friday, November 21st. Morgan Stanley upped their price target on shares of Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a report on Thursday, August 28th. Truist Financial lifted their price objective on Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Finally, Wall Street Zen downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday. Nineteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $307.42.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 3,350 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 23,773 shares in the company, valued at $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 14,595 shares of Veeva Systems stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total value of $4,378,500.00. Following the completion of the sale, the senior vice president directly owned 8,588 shares in the company, valued at $2,576,400. This represents a 62.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is 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.