Geode Capital Management LLC Increases Stock Position in Veeva Systems Inc. $VEEV

Geode Capital Management LLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 3.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,092,539 shares of the technology company’s stock after buying an additional 114,003 shares during the quarter. Geode Capital Management LLC’s holdings in Veeva Systems were worth $888,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in 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 during the last quarter. Alliancebernstein L.P. lifted its stake in Veeva Systems by 10.7% in the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock worth $1,273,884,000 after purchasing an additional 532,269 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Veeva Systems by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock valued at $1,205,372,000 after buying an additional 34,169 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Veeva Systems by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock worth $924,754,000 after buying an additional 689,700 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Veeva Systems by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,230,758 shares of the technology company’s stock valued at $748,341,000 after acquiring an additional 225,125 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VEEV. BMO Capital Markets assumed coverage on Veeva Systems in a research note on Thursday. They issued a “market perform” rating and a $300.00 price target on the stock. Barclays boosted their price target on Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. BTIG Research restated a “buy” rating and set a $340.00 target price on shares of Veeva Systems in a report on Friday, October 17th. JPMorgan Chase & Co. upgraded Veeva Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $290.00 to $330.00 in a report on Monday, September 8th. Finally, Canaccord Genuity Group raised their target price on Veeva Systems from $270.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $307.28.

Insider Transactions at Veeva Systems

In other news, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction dated 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 $7,765,151.50. The trade was a 19.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $298.12, for a total transaction of $214,646.40. Following the completion of the sale, the senior vice president directly owned 7,868 shares of the company’s stock, valued at $2,345,608.16. This represents a 8.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,665 shares of company stock worth $7,438,000 in the last three months. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $291.75 on Friday. Veeva Systems Inc. has a one year low of $201.54 and a one year high of $310.50. The business has a fifty day moving average of $288.49 and a 200 day moving average of $276.88. The firm has a market capitalization of $47.82 billion, a P/E ratio of 59.91, a PEG ratio of 2.22 and a beta of 0.98.

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

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.