Geode Capital Management LLC Buys 23,117 Shares of Veeva Systems Inc. $VEEV

Key Points

• Geode Capital Management increased its Veeva Systems stake by 0.7% in the fourth quarter, buying 23,117 shares and bringing its holdings to 3,172,716 shares valued at about $706.4 million.
• Veeva reported better-than-expected quarterly results, with earnings per share of $2.06 and revenue of $835.95 million, both topping analyst estimates. Revenue rose 16% year over year.
• Despite some mixed analyst moves and insider selling, Wall Street’s overall view remains Moderate Buy, with 16 Buy ratings and an average target price of $276.52.

Geode Capital Management LLC increased its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,172,716 shares of the technology company's stock after purchasing an additional 23,117 shares during the period. Geode Capital Management LLC owned 1.93% of Veeva Systems worth $706,442,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of VEEV. Alphinity Investment Management Pty Ltd bought a new position in Veeva Systems in the 3rd quarter worth approximately $422,241,000. Durable Capital Partners LP bought a new position in Veeva Systems in the 2nd quarter worth approximately $281,351,000. ABN AMRO Bank N.V. bought a new position in Veeva Systems in the 3rd quarter worth approximately $246,625,000. AQR Capital Management LLC raised its position in shares of Veeva Systems by 31.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock valued at $706,078,000 after acquiring an additional 574,164 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Veeva Systems by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company's stock valued at $4,596,522,000 after acquiring an additional 457,806 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems News Summary

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

• Positive Sentiment: Veeva announced that Kindeva, a global CDMO, is adopting Veeva Quality Cloud to unify sites on a single platform, which supports Veeva’s growth narrative and could boost future recurring software revenue. Why Veeva Systems (VEEV) Stock Is Up Today
• Positive Sentiment: Coverage highlighting Veeva versus IQVIA points to strong industry tailwinds from life sciences digitization, with Veeva viewed as benefiting from AI adoption and a premium business model. Veeva vs. IQVIA: Which Life Sciences Tech Stock Holds More Promise?
• Neutral Sentiment: Several articles previewed Wall Street’s key metric estimates for Veeva’s upcoming quarter, suggesting investors are watching whether the company can meet growth expectations, but these pieces did not include a new earnings surprise or guidance update. Unveiling Veeva (VEEV) Q1 Outlook: Wall Street Estimates for Key Metrics
• Neutral Sentiment: Veeva was also highlighted as a trending stock and covered in analyst-style writeups noting a “Moderate Buy” consensus, which supports attention on the name but does not by itself change fundamentals. Veeva Systems Inc. NYSE: VEEV Given Average Recommendation of "Moderate Buy" by Analysts

Veeva Systems Stock Up 5.8%

Shares of VEEV stock opened at $173.97 on Friday. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The firm has a fifty day moving average of $166.38 and a 200-day moving average of $199.77. The firm has a market capitalization of $28.42 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 0.77 and a beta of 0.92.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. The firm 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 13.80% and a net margin of 28.44%.The company's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Research analysts expect that Veeva Systems Inc. will post 6.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on VEEV shares. JPMorgan Chase & Co. dropped their target price on shares of Veeva Systems from $330.00 to $296.00 and set an "overweight" rating for the company in a research report on Friday, February 20th. Wall Street Zen cut shares of Veeva Systems from a "buy" rating to a "hold" rating in a research report on Sunday, March 22nd. Needham & Company LLC dropped their target price on shares of Veeva Systems from $355.00 to $270.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Canaccord Genuity Group dropped their target price on shares of Veeva Systems from $280.00 to $235.00 and set a "hold" rating for the company in a research report on Thursday, March 5th. Finally, Zacks Research cut shares of Veeva Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $276.52.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company's stock.

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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