28,112 Shares in Veeva Systems Inc. $VEEV Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,112 shares of the technology company’s stock, valued at approximately $8,375,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Veeva Systems in the 2nd quarter valued at about $384,265,000. Durable Capital Partners LP acquired a new stake in Veeva Systems during the 2nd quarter worth approximately $281,351,000. AQR Capital Management LLC raised its holdings in Veeva Systems by 111.7% in the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock valued at $526,508,000 after buying an additional 969,905 shares during the period. Schroder Investment Management Group lifted its position in Veeva Systems by 1,039.4% during the second quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock valued at $292,292,000 after buying an additional 925,896 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Veeva Systems by 423.8% during the second quarter. Los Angeles Capital Management LLC now owns 841,303 shares of the technology company’s stock valued at $242,278,000 after buying an additional 680,702 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on VEEV. TD Cowen raised shares of Veeva Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $297.00 to $380.00 in a research report on Tuesday, October 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a report on Monday, November 24th. Citigroup cut their price objective on Veeva Systems from $349.00 to $319.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, The Goldman Sachs Group initiated coverage on Veeva Systems in a research note on Tuesday, January 13th. They issued a “sell” rating and a $215.00 target price for the company. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $308.04.

Veeva Systems Stock Performance

Shares of VEEV opened at $219.83 on Thursday. Veeva Systems Inc. has a one year low of $201.54 and a one year high of $310.50. The stock has a 50-day moving average price of $235.35 and a 200 day moving average price of $267.73. The company has a market capitalization of $36.14 billion, a P/E ratio of 42.77, a P/E/G ratio of 1.60 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. The company had revenue of $0.81 million for the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.Veeva Systems’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 EPS. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems declared that its board has approved a share repurchase program on Monday, January 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the sale, the insider directly owned 23,204 shares of the company’s stock, valued at $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.30% of the company’s stock.

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.