Russell Investments Group Ltd. Purchases 16,628 Shares of Veeva Systems Inc. $VEEV

Key Points

• Russell Investments raised its stake in Veeva by 5.5%, buying 16,628 shares to hold 318,807 shares valued at about $94.67 million (≈0.19% of the company).
• Veeva beat Q1 estimates with EPS of $2.06 versus $1.94 expected and revenue of $835.95 million versus $810.95 million, with revenue up about 16% year‑over‑year.
• The company's board approved a $2.0 billion share repurchase program authorizing repurchases of up to roughly 5.5% of outstanding stock.

Russell Investments Group Ltd. raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 318,807 shares of the technology company's stock after purchasing an additional 16,628 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Veeva Systems worth $94,670,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VEEV. Linden Thomas Advisory Services LLC raised its holdings in shares of Veeva Systems by 0.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company's stock worth $3,707,000 after buying an additional 35 shares during the period. Personal CFO Solutions LLC lifted its stake in shares of Veeva Systems by 3.5% during the 3rd quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company's stock worth $346,000 after acquiring an additional 39 shares during the last quarter. AFT Forsyth & Company Inc. boosted its holdings in Veeva Systems by 4.2% during the 3rd quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company's stock valued at $293,000 after acquiring an additional 40 shares during the period. Private Trust Co. NA boosted its holdings in Veeva Systems by 17.1% during the 3rd quarter. Private Trust Co. NA now owns 281 shares of the technology company's stock valued at $84,000 after acquiring an additional 41 shares during the period. Finally, Baron Wealth Management LLC grew its position in Veeva Systems by 1.7% in the 3rd quarter. Baron Wealth Management LLC now owns 2,447 shares of the technology company's stock valued at $729,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the transaction, the insider directly owned 23,204 shares in the company, valued at $5,370,101.72. This represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VEEV. TD Cowen reduced their target price on Veeva Systems from $380.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Morgan Stanley upped their price target on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Citigroup reduced their price target on shares of Veeva Systems from $319.00 to $291.00 and set a "buy" rating on the stock in a research note on Monday. Jefferies Financial Group reiterated a "buy" rating and set a $330.00 price objective on shares of Veeva Systems in a report on Monday, November 24th. Finally, KeyCorp reissued a "sector weight" rating on shares of Veeva Systems in a research report on Friday, December 12th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $283.70.

Veeva Systems Trading Up 0.3%

Shares of VEEV stock opened at $196.13 on Tuesday. Veeva Systems Inc. has a twelve month low of $168.13 and a twelve month high of $310.50. The stock has a market capitalization of $32.24 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 1.35 and a beta of 1.09. The stock has a fifty day simple moving average of $202.90 and a two-hundred day simple moving average of $246.30.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. The business had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The business's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 EPS. 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 predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its board has approved a stock repurchase plan on Monday, January 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology company to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.

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