North Star Asset Management Inc. acquired a new position in Veeva Systems Inc. (NYSE:VEEV – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 154,337 shares of the technology company’s stock, valued at approximately $27,390,000. Veeva Systems accounts for 1.1% of North Star Asset Management Inc.’s investment portfolio, making the stock its 27th largest position. North Star Asset Management Inc. owned about 0.10% of Veeva Systems at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Veeva Systems in the fourth quarter worth approximately $332,412,000. Durable Capital Partners LP purchased a new stake in shares of Veeva Systems in the 2nd quarter worth $281,351,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Veeva Systems by 203.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after purchasing an additional 611,868 shares in the last quarter. AQR Capital Management LLC raised its holdings in Veeva Systems by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after purchasing an additional 574,164 shares during the period. Finally, Swedbank AB lifted its position in Veeva Systems by 43.5% during the first quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock valued at $288,983,000 after purchasing an additional 498,971 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.
Veeva Systems Stock Performance
Shares of VEEV stock opened at $282.76 on Friday. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The firm has a market capitalization of $45.93 billion, a PE ratio of 46.51, a PEG ratio of 1.05 and a beta of 0.92. The stock has a fifty day simple moving average of $206.00 and a two-hundred day simple moving average of $183.73.
More Veeva Systems News
Here are the key news stories impacting Veeva Systems this week:
- Positive Sentiment: Veeva reported revenue of approximately $928.0 million, up 17.6% year over year and above the $905.4 million consensus estimate. Adjusted EPS of $2.35 also exceeded expectations of $2.22 and increased from $1.99 a year ago. Veeva Announces Fiscal 2027 Second Quarter Results
- Positive Sentiment: Management issued fiscal third-quarter revenue guidance of $932 million to $935 million and EPS guidance of $2.33 to $2.34, both ahead of Wall Street estimates. Full-year fiscal 2027 EPS guidance of $9.21 and revenue guidance of roughly $3.7 billion also surpassed consensus forecasts. Veeva Systems Q2 Earnings and Revenues Beat Estimates
- Positive Sentiment: The earnings call highlighted record Vault CRM performance, continued momentum in the company’s core applications and strong customer interest in Falcon AI. Veeva expects its first Falcon customer deployments later this year, supporting the market’s view that AI could create an additional growth catalyst. VEEV Q2 Earnings Call Centers on Falcon and CRM Momentum
- Positive Sentiment: Several analysts raised their price targets following the results. Notable increases included Barclays to $315, RBC to $325, Guggenheim to $310, Truist to $305 and Robert W. Baird to $300; Barclays, RBC, Guggenheim, Truist and Baird maintained positive ratings.
- Neutral Sentiment: Other firms also lifted targets but retained cautious ratings: UBS raised its target to $290 while keeping a neutral rating, Morgan Stanley raised its target to $275 with an equal-weight rating, and Canaccord increased its target to $260 while maintaining a hold rating. These targets suggest valuation concerns remain after the rally.
Insiders Place Their Bets
In other Veeva Systems news, insider Thomas D. 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 completion of the sale, the insider directly owned 19,449 shares of the company’s stock, valued at $4,866,723.27. This trade represents a 64.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Weiss Ratings raised Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Stifel Nicolaus set a $300.00 price objective on Veeva Systems in a research report on Thursday. Oppenheimer boosted their price objective on Veeva Systems from $225.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. BNP Paribas Exane reiterated an “outperform” rating and set a $285.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, BMO Capital Markets increased their target price on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a report on Thursday. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $281.00.
View Our Latest Stock Report on Veeva Systems
Veeva Systems Company 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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