State Board of Administration of Florida Retirement System Increases Position in Veeva Systems Inc. $VEEV

State Board of Administration of Florida Retirement System raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,613 shares of the technology company’s stock after purchasing an additional 1,460 shares during the period. State Board of Administration of Florida Retirement System owned 0.09% of Veeva Systems worth $40,782,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in VEEV. Sigma Planning Corp increased its position in Veeva Systems by 1.2% during the 2nd quarter. Sigma Planning Corp now owns 3,328 shares of the technology company’s stock valued at $958,000 after buying an additional 39 shares in the last quarter. Keybank National Association OH boosted its holdings in Veeva Systems by 1.4% in the second quarter. Keybank National Association OH now owns 3,088 shares of the technology company’s stock worth $889,000 after acquiring an additional 42 shares in the last quarter. Facet Wealth Inc. grew its stake in shares of Veeva Systems by 3.3% in the second quarter. Facet Wealth Inc. now owns 1,342 shares of the technology company’s stock worth $381,000 after acquiring an additional 43 shares during the last quarter. TFB Advisors LLC increased its holdings in shares of Veeva Systems by 1.2% during the first quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock valued at $831,000 after acquiring an additional 44 shares in the last quarter. Finally, Triangle Securities Wealth Management increased its holdings in shares of Veeva Systems by 0.8% during the second quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company’s stock valued at $1,665,000 after acquiring an additional 45 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 720 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $298.12, for a total transaction of $214,646.40. Following the completion of the sale, the senior vice president owned 7,868 shares in the company, valued at approximately $2,345,608.16. This represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total value of $1,839,720.00. Following the completion of the transaction, the insider directly owned 25,325 shares in the company, valued at approximately $7,765,151.50. This represents a 19.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,665 shares of company stock valued at $7,438,000 over the last 90 days. Company insiders own 10.30% of the company’s stock.

Veeva Systems Stock Down 0.2%

VEEV opened at $240.30 on Friday. The firm has a 50 day moving average price of $284.10 and a 200-day moving average price of $278.59. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The stock has a market capitalization of $39.39 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 2.22 and a beta of 0.98.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.09. The company had revenue of $811.24 million for the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $1.75 earnings per share. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS. Q4 2026 guidance at 1.920-1.920 EPS. As a group, analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and issued a $325.00 price target on shares of Veeva Systems in a research note on Thursday, August 28th. Barclays decreased their target price on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating for the company in a report on Friday, November 21st. Stifel Nicolaus upped their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. upgraded shares of Veeva Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $290.00 to $330.00 in a report on Monday, September 8th. Finally, Robert W. Baird boosted their price objective on shares of Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Twenty analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $305.88.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.