Veeva Systems Inc. $VEEV Stake Boosted by National Pension Service

Key Points

• National Pension Service increased its Veeva Systems stake by 20.8% in the second quarter, adding 47,459 shares to own 276,161 shares worth approximately $49 million. Institutional investors collectively own 88.2% of the company.
• Veeva reported quarterly earnings of $2.35 per share on $927.96 million in revenue, exceeding analyst estimates, while revenue rose 17.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $284.88.
• Veeva shares opened at $262.30, well above their 50-day and 200-day moving averages. Meanwhile, insiders sold 46,750 shares worth approximately $12 million over the past quarter, including significant sales by an insider and a director.

National Pension Service boosted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 20.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,161 shares of the technology company's stock after buying an additional 47,459 shares during the period. National Pension Service owned 0.17% of Veeva Systems worth $49,010,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SHP Wealth Management bought a new stake in shares of Veeva Systems during the 4th quarter worth about $26,000. Compass Financial Management LLC acquired a new position in shares of Veeva Systems during the second quarter valued at approximately $27,000. Arlington Trust Co LLC acquired a new stake in Veeva Systems in the second quarter worth approximately $29,000. Field & Main Bank bought a new position in Veeva Systems during the 2nd quarter valued at $29,000. Finally, MV Capital Management Inc. acquired a new position in shares of Veeva Systems during the 4th quarter valued at $30,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $262.30 on Friday. The stock has a market cap of $42.47 billion, a PE ratio of 43.14, a PEG ratio of 1.12 and a beta of 0.97. The business has a fifty day moving average of $228.50 and a two-hundred day moving average of $190.94. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $927.96 million for the quarter, compared to analysts' expectations of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.99 earnings per share. 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. Analysts predict that Veeva Systems Inc. will post 6.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler upped their price objective on Veeva Systems from $295.00 to $320.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Canaccord Genuity Group increased their target price on shares of Veeva Systems from $220.00 to $260.00 and gave the stock a "hold" rating in a research report on Thursday, August 27th. Guggenheim lifted their price objective on shares of Veeva Systems from $276.00 to $310.00 and gave the company a "buy" rating in a research note on Thursday, August 27th. TD Cowen lifted their price target on Veeva Systems from $235.00 to $283.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Finally, Oppenheimer raised their price objective on Veeva Systems from $225.00 to $300.00 and gave the stock an "outperform" rating in a research report on Monday, August 17th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and an average target price of $284.88.

Insider Buying and Selling

In other news, insider Thomas Schwenger sold 36,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the sale, the insider directly owned 19,449 shares of the company's stock, valued at $4,866,723.27. This represents a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the transaction, the director owned 3,242 shares of the company's stock, valued at $846,291.68. This trade represents a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,750 shares of company stock worth $12,017,360 over the last quarter. 10.60% of the stock is owned by company insiders.

About Veeva Systems

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company's Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.

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