Pier 88 Investment Partners LLC Purchases New Shares in Veeva Systems Inc. $VEEV

Pier 88 Investment Partners LLC purchased a new position in Veeva Systems Inc. (NYSE:VEEV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,900 shares of the technology company’s stock, valued at approximately $3,715,000.

A number of other hedge funds have also bought and sold shares of VEEV. Crossmark Global Holdings Inc. bought a new stake in shares of Veeva Systems in the 1st quarter valued at about $299,000. Merit Financial Group LLC increased its holdings in Veeva Systems by 12.5% during the second quarter. Merit Financial Group LLC now owns 45,247 shares of the technology company’s stock valued at $13,030,000 after buying an additional 5,042 shares during the period. QRG Capital Management Inc. raised its stake in Veeva Systems by 15.7% in the second quarter. QRG Capital Management Inc. now owns 12,771 shares of the technology company’s stock worth $3,678,000 after buying an additional 1,735 shares in the last quarter. Nordea Investment Management AB raised its stake in Veeva Systems by 9.3% in the second quarter. Nordea Investment Management AB now owns 391,273 shares of the technology company’s stock worth $110,832,000 after buying an additional 33,378 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Veeva Systems by 1.9% during the second quarter. Teacher Retirement System of Texas now owns 143,469 shares of the technology company’s stock worth $41,316,000 after buying an additional 2,659 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $295.23 on Friday. Veeva Systems Inc. has a fifty-two week low of $201.54 and a fifty-two week high of $310.50. The company has a market cap of $48.39 billion, a PE ratio of 60.62, a P/E/G ratio of 2.22 and a beta of 0.98. The business has a 50-day simple moving average of $286.40 and a two-hundred day simple moving average of $275.27.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 earnings per share (EPS) 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 net margin of 27.29% and a return on equity of 13.72%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the company 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. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction dated 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 sale, the insider owned 23,773 shares of the company’s stock, valued at approximately $7,132,850.92. The trade was a 12.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the business’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 sale, the insider owned 25,325 shares in the company, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,665 shares of company stock worth $7,438,000. Company insiders own 10.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. KeyCorp lifted their price target on Veeva Systems from $285.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Morgan Stanley raised their price objective on Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a research report on Thursday, August 28th. Mizuho boosted their target price on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a research report on Friday, October 17th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $340.00 price objective (up previously from $310.00) on shares of Veeva Systems in a research report on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $307.58.

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.