First Citizens Bank & Trust Co. purchased a new stake in Veeva Systems Inc. (NYSE:VEEV – Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,132 shares of the technology company’s stock, valued at approximately $1,179,000.
A number of other large investors have also recently bought and sold shares of VEEV. Principal Financial Group Inc. raised its stake in Veeva Systems by 7.0% during the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after acquiring an additional 271,252 shares in the last quarter. Swedbank AB lifted its holdings in shares of 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 acquiring an additional 498,971 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Veeva Systems by 43.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock valued at $279,970,000 after purchasing an additional 483,720 shares in the last quarter. Amundi boosted its stake in shares of Veeva Systems by 8.0% in the 1st quarter. Amundi now owns 992,977 shares of the technology company’s stock valued at $174,426,000 after purchasing an additional 73,510 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted 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 valued at $160,427,000 after purchasing an additional 611,868 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.
Veeva Systems Stock Up 5.3%
Veeva Systems stock opened at $313.01 on Friday. The stock has a 50-day simple moving average of $268.19 and a 200 day simple moving average of $207.22. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $315.02. The stock has a market capitalization of $50.68 billion, a price-to-earnings ratio of 51.48, a P/E/G ratio of 1.27 and a beta of 0.93.
Veeva Systems (NYSE:VEEV – Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the prior year, the company earned $1.99 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. 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. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 6.70 EPS for the current year.
Key Stories Impacting Veeva Systems
Here are the key news stories impacting Veeva Systems this week:
- Positive Sentiment: Expanded IQVIA partnership strengthens Veeva’s clinical-software position. IQVIA selected Veeva’s Clinical Trial Management System, eTMF, Study Startup, and Site Connect applications as enterprise standards across its global clinical studies. The agreement expands Veeva’s footprint with a major contract research organization and could support broader adoption among biopharma customers. Veeva Systems Becomes Default Clinical Software Across a Major Research Partner
- Positive Sentiment: Analyst support remains favorable. Oppenheimer maintained a $325 price target, and average brokerage recommendations remain optimistic. While analyst ratings can be biased, the continued positive stance is supporting investor confidence. Oppenheimer Keeps USD 325 Target for Veeva Systems Stock
- Positive Sentiment: Technical momentum attracted additional buying. Veeva moved above a buy point in an early-stage chart pattern, with reports describing increased institutional or “big money” exposure to the AI and life-sciences software theme. Veeva Stock Breaks Out as Big Money Grabs Exposure
- Positive Sentiment: Veeva’s growth platform continues to broaden. More than 175 emerging biotechs reportedly use Veeva Basics, adding to the company’s clinical, regulatory, and quality software ecosystem. Veeva also plans to hold a virtual investor day on November 5, which could provide additional detail on strategy and growth opportunities. Veeva to Host Virtual Investor Day
- Neutral Sentiment: Veeva is receiving elevated investor attention, and industry forecasts point to long-term expansion in life-sciences IT driven by cloud and artificial-intelligence adoption. These factors support the broader investment narrative but do not represent new company-specific revenue.
- Negative Sentiment: Oppenheimer noted that Veeva’s guidance may imply further deceleration in research-and-development growth. This could temper expectations and remains a risk for a stock trading at a premium valuation. Veeva Systems’ Research and Development Growth Tracking to Plan
Insider Buying and Selling at Veeva Systems
In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the transaction, the director directly owned 3,242 shares of the company’s stock, valued at approximately $846,291.68. The trade was a 18.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Rizzo sold 4,841 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the transaction, the executive vice president owned 7,665 shares in the company, valued at $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 51,591 shares of company stock worth $13,355,945. 10.60% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
VEEV has been the topic of several analyst reports. Citigroup upped 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, August 28th. Guggenheim lifted their price target on shares of Veeva Systems from $276.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Royal Bank Of Canada lifted their price target on shares of Veeva Systems from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Piper Sandler boosted their price target on shares of Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Finally, TD Cowen upped their price objective on shares of Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $285.92.
Get Our Latest Stock Report on VEEV
Veeva Systems Profile
Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.
The company’s product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.
Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.
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