Russell Investments Group Ltd. Acquires 16,628 Shares of Veeva Systems Inc. $VEEV

Russell Investments Group Ltd. boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 318,807 shares of the technology company’s stock after buying an additional 16,628 shares during the quarter. Russell Investments Group Ltd.’s holdings in Veeva Systems were worth $94,670,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VEEV. Schroder Investment Management Group lifted its holdings in Veeva Systems by 19.8% during the third quarter. Schroder Investment Management Group now owns 1,216,202 shares of the technology company’s stock worth $356,347,000 after buying an additional 201,228 shares during the period. Fort Sheridan Advisors LLC purchased a new position in shares of Veeva Systems in the 3rd quarter valued at $204,000. Private Advisor Group LLC increased its holdings in shares of Veeva Systems by 3.9% in the 3rd quarter. Private Advisor Group LLC now owns 4,056 shares of the technology company’s stock valued at $1,208,000 after acquiring an additional 153 shares during the period. Diversify Advisory Services LLC bought a new position in shares of Veeva Systems in the 3rd quarter worth $241,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Veeva Systems during the 3rd quarter worth $1,302,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the transaction, the insider directly owned 23,204 shares in the company, valued at $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $196.13 on Tuesday. The company’s fifty day moving average price is $202.90 and its 200-day moving average price is $246.30. Veeva Systems Inc. has a 1-year low of $168.13 and a 1-year high of $310.50. The firm has a market capitalization of $32.24 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 1.35 and a beta of 1.09.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The company had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. During the same quarter last year, the business posted $1.74 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, research analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VEEV shares. Royal Bank Of Canada lowered their price target on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Canaccord Genuity Group reduced their price objective on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Morgan Stanley increased their target price on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Weiss Ratings downgraded shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, TD Cowen cut their price target on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $283.70.

Veeva Systems 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.