New Mexico Educational Retirement Board Purchases New Stake in Veeva Systems Inc. $VEEV

Key Points

• New Mexico Educational Retirement Board acquired 7,600 Veeva Systems shares worth approximately $1.35 million in the second quarter. Institutional investors collectively own 88.2% of the company.
• Veeva reported quarterly revenue of $927.96 million and EPS of $2.35, beating analyst estimates, while revenue grew 17.6% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $284.46.
• VEEV shares opened at $277.27, near the upper end of their 12-month range, and trade at a relatively high P/E ratio of 45.6. Insider Thomas D. Schwenger separately sold 36,000 shares for approximately $9.0 million under a Rule 10b5-1 plan.

New Mexico Educational Retirement Board acquired a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,600 shares of the technology company's stock, valued at approximately $1,349,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SHP Wealth Management bought a new position in shares of Veeva Systems in the 4th quarter valued at about $26,000. Arlington Trust Co LLC bought a new stake in shares of Veeva Systems during the second quarter worth approximately $29,000. Field & Main Bank bought a new stake in shares of Veeva Systems during the second quarter worth approximately $29,000. MV Capital Management Inc. acquired a new position in Veeva Systems in the fourth quarter valued at approximately $30,000. Finally, Reflection Asset Management acquired a new position in Veeva Systems in the fourth quarter valued at approximately $32,000. 88.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of analyst reports. Citigroup lifted their target price on shares of Veeva Systems from $190.00 to $273.00 and gave the stock a "neutral" rating in a report on Friday. Royal Bank Of Canada lifted their price objective on Veeva Systems from $275.00 to $325.00 and gave the stock an "outperform" rating in a research note on Thursday. Truist Financial increased their target price on Veeva Systems from $262.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday. Raymond James Financial restated an "outperform" rating and set a $225.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Wall Street Zen lowered Veeva Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 3rd. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $284.46.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 36,000 shares of Veeva Systems stock in a transaction dated 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 transaction, the insider owned 19,449 shares in the company, valued at $4,866,723.27. The trade was a 64.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Veeva Systems Stock 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 fifty day moving average of $208.48 and a 200-day moving average of $184.39. The firm has a market capitalization of $45.04 billion, a price-to-earnings ratio of 45.60, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.The business had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter last year, the business posted $1.99 EPS. The firm's revenue was up 17.6% compared to the same quarter last year. 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. Research analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Key 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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