AQR Capital Management LLC Grows Stock Position in Veeva Systems Inc. $VEEV

AQR Capital Management LLC raised its position in Veeva Systems Inc. (NYSE:VEEV) by 111.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,838,046 shares of the technology company’s stock after acquiring an additional 969,905 shares during the period. AQR Capital Management LLC’s holdings in Veeva Systems were worth $526,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new stake in Veeva Systems in the 2nd quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new position in Veeva Systems during the second quarter worth about $32,000. Maseco LLP purchased a new position in shares of Veeva Systems in the second quarter worth about $35,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Veeva Systems by 58.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock valued at $38,000 after purchasing an additional 49 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at approximately $41,000. Institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction 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 completion of the transaction, the insider owned 23,773 shares in the company, valued at approximately $7,132,850.92. The trade was a 12.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 14,595 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the sale, the senior vice president owned 8,588 shares in the company, valued at approximately $2,576,400. The trade was a 62.96% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 24,665 shares of company stock worth $7,438,000. Company insiders own 10.30% of the company’s stock.

Veeva Systems Stock Down 2.9%

Veeva Systems stock opened at $222.87 on Friday. The company has a market capitalization of $36.63 billion, a PE ratio of 43.36, a P/E/G ratio of 1.71 and a beta of 1.05. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The firm has a fifty day simple moving average of $273.45 and a two-hundred day simple moving average of $278.41.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.95 by $0.09. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. During the same period in the previous year, the firm earned $1.75 earnings per share. The firm’s revenue for the quarter 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, equities analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on VEEV. JPMorgan Chase & Co. upgraded shares of Veeva Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $290.00 to $330.00 in a research note on Monday, September 8th. KeyCorp reaffirmed a “sector weight” rating on shares of Veeva Systems in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $355.00 price target on shares of Veeva Systems in a research report on Friday, November 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Veeva Systems in a report on Monday. Finally, Stifel Nicolaus raised their target price on Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $307.42.

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.