Sumitomo Mitsui Trust Group Inc. Buys 6,022 Shares of Veeva Systems Inc. $VEEV

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 363,632 shares of the technology company’s stock after buying an additional 6,022 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Veeva Systems were worth $108,330,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Trust Co. of Toledo NA OH bought a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $29,000. OLD Second National Bank of Aurora bought a new position in shares of Veeva Systems in the third quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in Veeva Systems during the second quarter worth $32,000. Maseco LLP bought a new stake in Veeva Systems during the second quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in Veeva Systems by 58.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock valued at $38,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VEEV shares. Barclays lowered their price objective on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. BMO Capital Markets initiated coverage on Veeva Systems in a report on Thursday, November 13th. They set a “market perform” rating and a $300.00 price target for the company. Truist Financial raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Thursday, January 8th. The Goldman Sachs Group started coverage on Veeva Systems in a research report on Tuesday. They issued a “sell” rating and a $215.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Stock Down 2.0%

Shares of VEEV stock opened at $228.47 on Wednesday. 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 $37.56 billion, a PE ratio of 44.45, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The firm has a 50 day moving average price of $244.46 and a two-hundred day moving average price of $270.25.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. The company had revenue of $0.81 million for the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 earnings per share. 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. As a group, research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

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

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.