Czech National Bank Buys Shares of 42,736 Veeva Systems Inc. $VEEV

Key Points

• Czech National Bank initiated a position in Veeva Systems during the second quarter, purchasing 42,736 shares valued at approximately $7.6 million. Institutional investors collectively own 88.2% of the company.
• Analyst sentiment remains broadly positive, with MarketBeat assigning Veeva an overall “Moderate Buy” rating and an average price target of $247.08, despite some analysts lowering ratings or price targets.
• Veeva exceeded quarterly expectations, reporting $2.24 in adjusted EPS versus the $2.14 consensus and revenue of $882.95 million, up 16.3% year over year.

Czech National Bank bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,736 shares of the technology company's stock, valued at approximately $7,584,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its holdings in shares of Veeva Systems by 11.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company's stock worth $199,137,000 after buying an additional 90,703 shares in the last quarter. Empire Life Investments Inc. boosted its stake in Veeva Systems by 21.1% in the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company's stock valued at $8,272,000 after buying an additional 6,453 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Veeva Systems by 217.2% in the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company's stock valued at $2,337,000 after buying an additional 7,169 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Veeva Systems by 14.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company's stock valued at $247,817,000 after acquiring an additional 137,965 shares during the last quarter. Finally, KBC Group NV grew its position in Veeva Systems by 180.2% in the fourth quarter. KBC Group NV now owns 201,140 shares of the technology company's stock valued at $44,900,000 after acquiring an additional 129,346 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research reports. Weiss Ratings raised shares of Veeva Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, July 10th. BMO Capital Markets decreased their price target on shares of Veeva Systems from $220.00 to $175.00 and set a "market perform" rating on the stock in a report on Thursday, June 4th. Oppenheimer reiterated an "outperform" rating on shares of Veeva Systems in a research report on Monday, July 20th. TD Cowen reissued a "buy" rating on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Wall Street Zen lowered shares of Veeva Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $247.08.

Veeva Systems Price Performance

NYSE:VEEV opened at $229.93 on Monday. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The company has a market cap of $37.35 billion, a PE ratio of 40.99, a P/E/G ratio of 0.99 and a beta of 0.92. The firm's 50 day simple moving average is $183.83 and its 200 day simple moving average is $179.82.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analysts' expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company's revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.97 EPS. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Equities research analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current year.

About Veeva Systems

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.

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