Sumitomo Life Insurance Co. Acquires 2,154 Shares of Veeva Systems Inc. $VEEV

Sumitomo Life Insurance Co. increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 69.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,243 shares of the technology company’s stock after purchasing an additional 2,154 shares during the period. Sumitomo Life Insurance Co.’s holdings in Veeva Systems were worth $1,510,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Abound Financial LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at about $25,000. Trust Co. of Toledo NA OH bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Veeva Systems in the first quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Veeva Systems in the second quarter worth $32,000. Finally, Maseco LLP acquired a new position in Veeva Systems during the second quarter worth $35,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 2.2%

NYSE:VEEV opened at $291.20 on Monday. The firm has a market capitalization of $47.73 billion, a price-to-earnings ratio of 59.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The stock’s 50 day moving average price is $285.22 and its two-hundred day moving average price is $272.91.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 27th. The technology company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.64). The company had revenue of $789.08 million for the quarter, compared to analyst estimates of $768.49 million. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Mizuho lifted their target price on Veeva Systems from $295.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Veeva Systems in a research report on Wednesday, October 8th. William Blair restated an “outperform” rating on shares of Veeva Systems in a research note on Friday, October 17th. Finally, Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $307.58.

Insider Buying and Selling

In related news, insider Eleni Nitsa Zuppas sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the transaction, the insider directly owned 25,325 shares of the company’s stock, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 14,595 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total value of $4,378,500.00. Following the transaction, the senior vice president directly owned 8,588 shares in the company, valued at $2,576,400. The trade was a 62.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is owned by insiders.

Veeva Systems Profile

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.