North Star Asset Management Inc. Purchases Shares of 154,337 Veeva Systems Inc. $VEEV

North Star Asset Management Inc. acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 154,337 shares of the technology company’s stock, valued at approximately $27,390,000. Veeva Systems makes up about 1.1% of North Star Asset Management Inc.’s portfolio, making the stock its 27th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Veeva Systems in the fourth quarter valued at $332,412,000. Durable Capital Partners LP bought a new position in Veeva Systems during the second quarter valued at $281,351,000. Arrowstreet Capital Limited Partnership lifted its position in Veeva Systems by 203.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after purchasing an additional 611,868 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Veeva Systems by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after buying an additional 574,164 shares in the last quarter. Finally, Swedbank AB grew its stake in shares of Veeva Systems by 43.5% in the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock worth $288,983,000 after buying an additional 498,971 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Up 15.5%

VEEV stock opened at $282.76 on Friday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The company has a 50-day moving average price of $206.00 and a 200 day moving average price of $183.73. The stock has a market cap of $45.93 billion, a PE ratio of 46.51, a P/E/G ratio of 1.05 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data 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. The company had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.37%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.99 EPS. 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. Sell-side analysts forecast that Veeva Systems Inc. will post 6.65 EPS for the current year.

Key Headlines Impacting Veeva Systems

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

• Positive Sentiment: Veeva reported revenue of approximately $928.0 million, up 17.6% year over year and above the $905.4 million consensus estimate. Adjusted EPS of $2.35 also exceeded expectations of $2.22 and increased from $1.99 a year ago. Veeva Announces Fiscal 2027 Second Quarter Results
• Positive Sentiment: Management issued fiscal third-quarter revenue guidance of $932 million to $935 million and EPS guidance of $2.33 to $2.34, both ahead of Wall Street estimates. Full-year fiscal 2027 EPS guidance of $9.21 and revenue guidance of roughly $3.7 billion also surpassed consensus forecasts. Veeva Systems Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: The earnings call highlighted record Vault CRM performance, continued momentum in the company’s core applications and strong customer interest in Falcon AI. Veeva expects its first Falcon customer deployments later this year, supporting the market’s view that AI could create an additional growth catalyst. VEEV Q2 Earnings Call Centers on Falcon and CRM Momentum
• Positive Sentiment: Several analysts raised their price targets following the results. Notable increases included Barclays to $315, RBC to $325, Guggenheim to $310, Truist to $305 and Robert W. Baird to $300; Barclays, RBC, Guggenheim, Truist and Baird maintained positive ratings.
• Neutral Sentiment: Other firms also lifted targets but retained cautious ratings: UBS raised its target to $290 while keeping a neutral rating, Morgan Stanley raised its target to $275 with an equal-weight rating, and Canaccord increased its target to $260 while maintaining a hold rating. These targets suggest valuation concerns remain after the rally.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 36,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the sale, the insider directly owned 19,449 shares in the company, valued at approximately $4,866,723.27. This represents a 64.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on VEEV shares. Jefferies Financial Group restated a “buy” rating and set a $295.00 target price on shares of Veeva Systems in a research report on Thursday. BNP Paribas Exane reiterated an “outperform” rating and issued a $285.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Royal Bank Of Canada boosted their price objective on Veeva Systems from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday. TD Cowen raised their price objective on Veeva Systems from $235.00 to $283.00 and gave the company a “buy” rating in a research note on Monday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $225.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $281.00.

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.