Rakuten Investment Management Inc. Acquires New Position in Veeva Systems Inc. $VEEV

Rakuten Investment Management Inc. bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 28,112 shares of the technology company’s stock, valued at approximately $8,375,000.

Several other hedge funds have also made changes to their positions in the stock. Trust Co. of Toledo NA OH acquired a new stake in Veeva Systems in the second quarter worth $29,000. OLD Second National Bank of Aurora bought a new position in Veeva Systems in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at approximately $32,000. Maseco LLP bought a new stake in Veeva Systems during the 2nd quarter valued at $35,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings 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 valued at $38,000 after purchasing an additional 49 shares during the period. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

VEEV has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $355.00 price objective on shares of Veeva Systems in a report on Friday, November 21st. Weiss Ratings lowered shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Barclays lowered their price objective on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. Jefferies Financial Group restated a “buy” rating and issued a $330.00 target price on shares of Veeva Systems in a research report on Monday, November 24th. Finally, Wells Fargo & Company decreased their price target on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $308.04.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the sale, the insider directly owned 23,204 shares in the company, valued at approximately $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.30% of the company’s stock.

Veeva Systems Trading Up 1.7%

Shares of Veeva Systems stock opened at $219.83 on Thursday. The company has a market cap of $36.14 billion, a P/E ratio of 42.77, a P/E/G ratio of 1.60 and a beta of 1.07. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50. The stock has a 50-day moving average price of $235.35 and a 200 day moving average price of $267.73.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. The firm had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $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. On average, equities analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems announced that its Board of Directors has initiated a stock buyback plan on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to repurchase up to 5.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are 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.