Principal Financial Group Inc. Acquires 388,864 Shares of Veeva Systems Inc. $VEEV

Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,846,877 shares of the technology company’s stock after purchasing an additional 388,864 shares during the period. Principal Financial Group Inc. owned 2.35% of Veeva Systems worth $1,146,040,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Transcend Capital Advisors LLC acquired a new stake in shares of Veeva Systems in the third quarter valued at $571,000. Keybank National Association OH lifted its position in Veeva Systems by 4.3% during the 3rd quarter. Keybank National Association OH now owns 3,221 shares of the technology company’s stock worth $960,000 after buying an additional 133 shares in the last quarter. National Pension Service grew its holdings in Veeva Systems by 1.0% during the 3rd quarter. National Pension Service now owns 209,638 shares of the technology company’s stock worth $62,453,000 after acquiring an additional 2,024 shares during the last quarter. Welch & Forbes LLC increased its position in Veeva Systems by 6.8% in the 3rd quarter. Welch & Forbes LLC now owns 6,563 shares of the technology company’s stock valued at $1,955,000 after acquiring an additional 416 shares in the last quarter. Finally, Twin City Private Wealth LLC raised its stake in shares of Veeva Systems by 4.4% in the third quarter. Twin City Private Wealth LLC now owns 1,997 shares of the technology company’s stock worth $595,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 2.8%

VEEV stock opened at $204.08 on Friday. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The company has a market cap of $33.55 billion, a P/E ratio of 39.70, a price-to-earnings-growth ratio of 1.55 and a beta of 1.07. The business’s fifty day moving average is $227.25 and its 200-day moving average is $264.62.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The business had revenue of $0.81 million during the quarter, compared to the consensus estimate of $792.37 million. During the same quarter in the prior year, the company posted $1.75 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. 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. Research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems declared that its Board of Directors has initiated a stock repurchase plan on Monday, January 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology company to buy up to 5.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the transaction, the insider owned 23,204 shares in the company, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. William Blair reissued an “outperform” rating on shares of Veeva Systems in a research note on Friday, October 17th. The Goldman Sachs Group initiated coverage on Veeva Systems in a report on Tuesday, January 13th. They set a “sell” rating and a $215.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $355.00 target price on shares of Veeva Systems in a research note on Friday, November 21st. Robert W. Baird boosted their target price on Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Finally, BTIG Research reiterated a “buy” rating and issued a $340.00 price target on shares of Veeva Systems in a report on Friday, November 21st. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $308.04.

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.