Fundsmith LLP Invests $144.96 Million in Veeva Systems Inc. $VEEV

Fundsmith LLP bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 816,785 shares of the technology company’s stock, valued at approximately $144,955,000. Veeva Systems accounts for 1.1% of Fundsmith LLP’s holdings, making the stock its 23rd largest position. Fundsmith LLP owned approximately 0.50% of Veeva Systems at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 7.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after acquiring an additional 271,252 shares in the last quarter. State Street Corp grew its stake in Veeva Systems by 2.4% during the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after purchasing an additional 85,695 shares during the period. Geode Capital Management LLC grew its stake in Veeva Systems by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock worth $706,442,000 after purchasing an additional 23,117 shares during the period. AQR Capital Management LLC increased its holdings in Veeva Systems by 31.2% in the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after purchasing an additional 574,164 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Veeva Systems by 12.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company’s stock worth $385,761,000 after purchasing an additional 189,093 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research analyst reports. BTIG Research restated a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Morgan Stanley increased their target price on shares of Veeva Systems from $215.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday. Oppenheimer upped their price objective on shares of Veeva Systems from $225.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Canaccord Genuity Group raised their target price on Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Zacks Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $284.46.

More Veeva Systems News

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Beat-and-raise quarter: Veeva reported fiscal Q2 revenue of approximately $928 million, up 17.6% year over year and above expectations. Non-GAAP EPS of $2.35 also exceeded consensus, while next-quarter revenue guidance of about $933.5 million was roughly 1.5% ahead of estimates. VEEV Q2 Deep Dive: AI Expansion, CRM Wins, and Accelerating R&D Cloud Adoption
• Positive Sentiment: AI and CRM momentum: Management highlighted demand for its Falcon AI platform, record Vault CRM execution and increasing adoption of its Commercial Cloud products. The company expects its first Falcon customers to go live this year, supporting the growth outlook. VEEV Q2 Earnings Call Centers on Falcon and CRM Momentum
• Positive Sentiment: Shareholder returns and financial strength: Veeva’s $2 billion buyback—of which about $1.4 billion reportedly remains—may offset stock-based compensation and support EPS growth. Approximately $1.8 billion in cash, $5.4 billion in short-term investments and minimal debt provide balance-sheet flexibility.
• Positive Sentiment: Higher bullish targets: Barclays raised its target to $315, RBC to $325, Guggenheim to $310, Truist to $305 and Robert W. Baird to $300, with buy, outperform or overweight ratings. Analyst price-target updates
• Neutral Sentiment: Valuation is demanding: VEEV trades near $277, with a reported P/E ratio of 45.6, leaving less room for execution mistakes after the recent rally.
• Negative Sentiment: Analyst caution and consolidation: Citi maintained a neutral rating with a $273 target, while BMO, Canaccord and Morgan Stanley targets were below the current price. The latest weakness may therefore represent consolidation as investors digest strong results and reassess the stock’s premium valuation.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the completion of the sale, the insider directly owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. The trade was a 64.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Veeva Systems Trading Up 0.2%

Shares of VEEV stock opened at $277.27 on Monday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The firm has a market capitalization of $45.04 billion, a PE ratio of 45.60, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The firm has a fifty day simple moving average of $208.48 and a two-hundred day simple moving average of $184.39.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the company earned $1.99 earnings per share. 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. On average, equities analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

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.