Arrowstreet Capital Limited Partnership Purchases 242,314 Shares of Veeva Systems Inc. $VEEV

Arrowstreet Capital Limited Partnership increased its position in Veeva Systems Inc. (NYSE:VEEV) by 148.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,245 shares of the technology company’s stock after buying an additional 242,314 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Veeva Systems were worth $116,702,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in VEEV. Harbour Investments Inc. boosted its position in shares of Veeva Systems by 7.6% during the 1st quarter. Harbour Investments Inc. now owns 789 shares of the technology company’s stock valued at $183,000 after acquiring an additional 56 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in Veeva Systems during the first quarter valued at $803,000. Bank of Nova Scotia lifted its position in Veeva Systems by 7.2% during the first quarter. Bank of Nova Scotia now owns 4,060 shares of the technology company’s stock valued at $940,000 after purchasing an additional 273 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Veeva Systems by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company’s stock worth $3,418,990,000 after buying an additional 315,421 shares in the last quarter. Finally, AXS Investments LLC bought a new stake in shares of Veeva Systems in the 1st quarter worth about $1,365,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $241.01 on Thursday. The stock has a 50 day moving average price of $281.76 and a 200 day moving average price of $278.83. Veeva Systems Inc. has a 52-week low of $201.54 and a 52-week high of $310.50. The firm has a market capitalization of $39.62 billion, a P/E ratio of 46.89, a P/E/G ratio of 1.79 and a beta of 1.05.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. During the same quarter in the prior year, the company posted $1.75 EPS. Veeva Systems’s quarterly 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. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VEEV. Needham & Company LLC reaffirmed a “buy” rating and issued a $355.00 price target on shares of Veeva Systems in a report on Friday, November 21st. JPMorgan Chase & Co. raised Veeva Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $290.00 to $330.00 in a research note on Monday, September 8th. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a report on Friday, October 17th. Stifel Nicolaus increased their price target on Veeva Systems from $295.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a research report on Monday, November 24th. Twenty investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $305.88.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 6,000 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total value of $1,839,720.00. Following the transaction, the insider directly owned 25,325 shares in the company, valued at $7,765,151.50. This represents a 19.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the transaction, the insider directly owned 23,773 shares in the company, valued at approximately $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,665 shares of company stock worth $7,438,000. Insiders own 10.30% of the company’s stock.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.