Veeva Systems Inc. $VEEV Stock Position Decreased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 312 shares of the technology company’s stock after selling 66 shares during the period. Cullen Frost Bankers Inc.’s holdings in Veeva Systems were worth $90,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Veeva Systems by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company’s stock valued at $3,418,990,000 after buying an additional 315,421 shares during the last quarter. Alliancebernstein L.P. grew its position in Veeva Systems by 10.7% in the 1st quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock worth $1,273,884,000 after purchasing an additional 532,269 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Veeva Systems by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock worth $1,205,372,000 after purchasing an additional 34,169 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Veeva Systems by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock worth $924,754,000 after purchasing an additional 689,700 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Veeva Systems by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,230,758 shares of the technology company’s stock worth $748,341,000 after purchasing an additional 225,125 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV stock opened at $293.11 on Friday. Veeva Systems Inc. has a 12 month low of $201.54 and a 12 month high of $310.50. The firm has a market cap of $48.04 billion, a PE ratio of 60.19, a P/E/G ratio of 2.27 and a beta of 0.98. The firm has a 50 day simple moving average of $284.70 and a 200 day simple moving average of $269.66.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 27th. The technology company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.64). Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The business had revenue of $789.08 million for the quarter, compared to analyst estimates of $768.49 million. During the same period in the prior year, the company earned $1.62 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, sell-side analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent analyst reports. KeyCorp upped their target price on shares of Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Oppenheimer restated an “outperform” rating and issued a $325.00 target price on shares of Veeva Systems in a research report on Thursday, August 28th. Raymond James Financial restated an “outperform” rating and issued a $340.00 target price (up previously from $310.00) on shares of Veeva Systems in a research report on Thursday, August 28th. Barclays upped their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Finally, Wells Fargo & Company upped their price target on shares of Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Seventeen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.58.

Insider Activity at Veeva Systems

In related news, insider Eleni Nitsa Zuppas sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the completion of the sale, the insider directly owned 25,325 shares of the company’s stock, valued at $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 3,350 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the completion of the sale, the insider owned 23,773 shares of the company’s stock, valued at approximately $7,132,850.92. This trade represents a 12.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,665 shares of company stock valued at $7,438,000 over the last ninety days. Insiders own 10.30% of the company’s stock.

About Veeva Systems

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.