Resona Asset Management Co. Ltd. Decreases Position in Veeva Systems Inc. $VEEV

Resona Asset Management Co. Ltd. lessened its holdings in Veeva Systems Inc. (NYSE:VEEV) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,333 shares of the technology company’s stock after selling 2,518 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Veeva Systems were worth $14,663,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Trust Co. of Toledo NA OH acquired a new stake in Veeva Systems in the 2nd quarter worth approximately $29,000. OLD Second National Bank of Aurora acquired a new position in Veeva Systems during the 3rd quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Veeva Systems in the second quarter worth $32,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Veeva Systems by 58.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock worth $38,000 after buying an additional 49 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Veeva Systems during the second quarter worth $41,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the topic of several research reports. BTIG Research reissued a “buy” rating and issued a $340.00 target price on shares of Veeva Systems in a research report on Friday, November 21st. The Goldman Sachs Group began coverage on Veeva Systems in a research note on Tuesday, January 13th. They set a “sell” rating and a $215.00 price target on the stock. TD Cowen raised Veeva Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $297.00 to $380.00 in a report on Tuesday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $355.00 target price on shares of Veeva Systems in a report on Friday, November 21st. Finally, KeyCorp reiterated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $308.04.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the transaction, the insider directly owned 23,204 shares of the company’s stock, valued at $5,370,101.72. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.30% of the stock is owned by insiders.

Veeva Systems Stock Performance

NYSE VEEV opened at $221.87 on Monday. The firm has a market capitalization of $36.47 billion, a P/E ratio of 43.16, a PEG ratio of 1.64 and a beta of 1.07. The stock has a 50-day simple moving average of $232.59 and a two-hundred day simple moving average of $266.81. Veeva Systems Inc. has a fifty-two week low of $201.54 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last posted 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. The firm had revenue of $0.81 million for the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.Veeva Systems’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $1.75 earnings per share. 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, analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems declared that its Board of Directors has authorized a share repurchase program on Monday, January 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology company to buy up to 5.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Veeva Systems Company Profile

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.