Jain Global LLC Raises Stock Position in Veeva Systems Inc. $VEEV

Jain Global LLC boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 82,522 shares of the technology company’s stock after acquiring an additional 5,079 shares during the period. Jain Global LLC owned about 0.05% of Veeva Systems worth $24,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jensen Investment Management Inc. raised its holdings in shares of Veeva Systems by 1,924.5% during the third quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock valued at $123,100,000 after acquiring an additional 392,802 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 11.2% in the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock valued at $1,146,040,000 after acquiring an additional 388,864 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Veeva Systems in the third quarter worth approximately $422,241,000. Compass Wealth Management LLC acquired a new stake in shares of Veeva Systems in the third quarter worth approximately $18,694,000. Finally, ABN AMRO Bank N.V. purchased a new stake in shares of Veeva Systems during the third quarter worth approximately $246,625,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on VEEV. Morgan Stanley raised their price objective on Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Citigroup dropped their target price on shares of Veeva Systems from $319.00 to $291.00 and set a “buy” rating for the company in a report on Monday, March 9th. Royal Bank Of Canada reduced their target price on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. TD Cowen lowered their price target on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Finally, Stifel Nicolaus upped their price objective on shares of Veeva Systems from $212.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.70.

Veeva Systems Stock Down 1.2%

Shares of NYSE:VEEV opened at $178.68 on Monday. Veeva Systems Inc. has a 52-week low of $168.13 and a 52-week high of $310.50. The stock has a market cap of $29.37 billion, a P/E ratio of 33.03, a PEG ratio of 1.19 and a beta of 1.09. The business has a fifty day moving average of $199.82 and a two-hundred day moving average of $243.33.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. The business had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, equities analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems announced that its board has approved a stock buyback plan on Monday, January 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the transaction, the insider directly owned 23,204 shares in the company, valued at $5,370,101.72. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.30% of the stock is owned by company insiders.

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.