Public Employees Retirement System of Ohio Invests $13.26 Million in Veeva Systems Inc. $VEEV

Public Employees Retirement System of Ohio purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 74,736 shares of the technology company’s stock, valued at approximately $13,263,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VEEV. Principal Financial Group Inc. increased its holdings in Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock valued at $727,513,000 after acquiring an additional 271,252 shares in the last quarter. State Street Corp increased its stake in shares of Veeva Systems by 2.4% during the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock valued at $801,267,000 after acquiring an additional 85,695 shares during the last quarter. Geode Capital Management LLC grew its holdings in Veeva Systems by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock valued at $706,442,000 after purchasing an additional 23,117 shares during the period. AQR Capital Management LLC increased its position in Veeva Systems by 31.2% during the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after purchasing an additional 574,164 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Veeva Systems by 12.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company’s stock worth $385,761,000 after purchasing an additional 189,093 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.2%

Shares of NYSE:VEEV opened at $277.27 on Monday. The company’s 50-day moving average price is $208.48 and its 200 day moving average price is $184.39. The company has a market cap of $45.04 billion, a PE ratio of 45.60, a P/E/G ratio of 1.19 and a beta of 0.92. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same period in the prior year, the business posted $1.99 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. As a group, equities analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current year.

Analyst Ratings Changes

VEEV has been the subject of a number of research analyst reports. Barclays upped their price objective on Veeva Systems from $275.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday. Robert W. Baird lifted their price target on shares of Veeva Systems from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Wells Fargo & Company boosted their price objective on Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $284.46.

Veeva Systems News Roundup

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Beat-and-raise quarter: Veeva reported fiscal Q2 revenue of approximately $928 million, up 17.6% year over year and above expectations. Non-GAAP EPS of $2.35 also exceeded consensus, while next-quarter revenue guidance of about $933.5 million was roughly 1.5% ahead of estimates. VEEV Q2 Deep Dive: AI Expansion, CRM Wins, and Accelerating R&D Cloud Adoption
• Positive Sentiment: AI and CRM momentum: Management highlighted demand for its Falcon AI platform, record Vault CRM execution and increasing adoption of its Commercial Cloud products. The company expects its first Falcon customers to go live this year, supporting the growth outlook. VEEV Q2 Earnings Call Centers on Falcon and CRM Momentum
• Positive Sentiment: Shareholder returns and financial strength: Veeva’s $2 billion buyback—of which about $1.4 billion reportedly remains—may offset stock-based compensation and support EPS growth. Approximately $1.8 billion in cash, $5.4 billion in short-term investments and minimal debt provide balance-sheet flexibility.
• Positive Sentiment: Higher bullish targets: Barclays raised its target to $315, RBC to $325, Guggenheim to $310, Truist to $305 and Robert W. Baird to $300, with buy, outperform or overweight ratings. Analyst price-target updates
• Neutral Sentiment: Valuation is demanding: VEEV trades near $277, with a reported P/E ratio of 45.6, leaving less room for execution mistakes after the recent rally.
• Negative Sentiment: Analyst caution and consolidation: Citi maintained a neutral rating with a $273 target, while BMO, Canaccord and Morgan Stanley targets were below the current price. The latest weakness may therefore represent consolidation as investors digest strong results and reassess the stock’s premium valuation.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 36,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the transaction, the insider directly owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. The trade was a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

About Veeva Systems

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.