DekaBank Deutsche Girozentrale Lowers Stake in Veeva Systems Inc. $VEEV

DekaBank Deutsche Girozentrale reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 24.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,742 shares of the technology company's stock after selling 16,672 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Veeva Systems were worth $14,639,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Veeva Systems during the 1st quarter worth about $365,684,000. Price T Rowe Associates Inc. MD raised its position in shares of Veeva Systems by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock worth $924,754,000 after purchasing an additional 689,700 shares during the last quarter. Linonia Partnership LP raised its position in shares of Veeva Systems by 52.7% during the 1st 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Veeva Systems by 48.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,799,931 shares of the technology company's stock worth $416,918,000 after purchasing an additional 585,785 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Veeva Systems by 10.7% during the 1st quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company's stock worth $1,273,884,000 after purchasing an additional 532,269 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total value of $1,005,134.00. Following the completion of the sale, the insider owned 23,773 shares of the company's stock, valued at $7,132,850.92. This represents a 12.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the completion of the sale, the insider directly owned 25,325 shares of the company's stock, valued at approximately $7,765,151.50. This trade represents a 19.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,665 shares of company stock valued at $7,438,000 in the last 90 days. Company insiders own 10.30% of the company's stock.

Veeva Systems Trading Up 0.6%

VEEV stock opened at $291.66 on Friday. The company has a market cap of $47.81 billion, a price-to-earnings ratio of 59.89, a PEG ratio of 2.24 and a beta of 0.98. Veeva Systems Inc. has a 12 month low of $201.54 and a 12 month high of $310.50. The firm has a 50-day moving average of $284.44 and a two-hundred day moving average of $268.67.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The technology company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.64). Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm had revenue of $789.08 million during the quarter, compared to analysts' expectations of $768.49 million. During the same period last year, the company earned $1.62 EPS. The business's quarterly revenue was up 16.7% on a year-over-year basis. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, equities analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on VEEV shares. Piper Sandler upped their price target on shares of Veeva Systems from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Canaccord Genuity Group upped their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "hold" rating in a research report on Thursday, August 28th. Oppenheimer restated an "outperform" rating and set a $325.00 price target on shares of Veeva Systems in a research report on Thursday, August 28th. KeyCorp increased their price objective on shares of Veeva Systems from $285.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Barclays increased their price objective on shares of Veeva Systems from $300.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $307.58.

Veeva Systems 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.

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