AQR Capital Management LLC Buys 969,905 Shares of Veeva Systems Inc. $VEEV

AQR Capital Management LLC increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 111.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,838,046 shares of the technology company’s stock after acquiring an additional 969,905 shares during the period. AQR Capital Management LLC owned about 1.12% of Veeva Systems worth $526,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of VEEV. ASR Vermogensbeheer N.V. increased its holdings in Veeva Systems by 64.2% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 5,167 shares of the technology company’s stock worth $1,488,000 after purchasing an additional 2,020 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of Veeva Systems during the second quarter worth about $306,000. QRG Capital Management Inc. grew its holdings in shares of Veeva Systems by 15.7% during the second quarter. QRG Capital Management Inc. now owns 12,771 shares of the technology company’s stock worth $3,678,000 after purchasing an additional 1,735 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Veeva Systems by 12.5% in the second quarter. Merit Financial Group LLC now owns 45,247 shares of the technology company’s stock valued at $13,030,000 after buying an additional 5,042 shares during the period. Finally, Penserra Capital Management LLC raised its holdings in Veeva Systems by 409.4% in the 2nd quarter. Penserra Capital Management LLC now owns 3,693 shares of the technology company’s stock valued at $1,062,000 after buying an additional 2,968 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on VEEV. Citigroup decreased their price target on shares of Veeva Systems from $349.00 to $319.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Truist Financial boosted their price objective on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised Veeva Systems from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $290.00 to $330.00 in a research report on Monday, September 8th. KeyCorp reaffirmed a “sector weight” rating on shares of Veeva Systems in a report on Friday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a research note on Monday, November 24th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $307.42.

Veeva Systems Stock Down 2.9%

NYSE:VEEV opened at $222.87 on Friday. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The company has a fifty day moving average of $273.45 and a 200-day moving average of $278.41. The firm has a market capitalization of $36.63 billion, a P/E ratio of 43.36, a P/E/G ratio of 1.71 and a beta of 1.05.

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. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The business had revenue of $0.81 million for the quarter, compared to analyst estimates of $792.37 million. During the same period in the prior year, the firm earned $1.75 earnings per share. Veeva Systems’s revenue was up 16.0% on a year-over-year basis. 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, analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, insider Eleni Nitsa Zuppas sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value 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. The trade was a 19.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 3,350 shares of the business’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 value of $1,005,134.00. Following the sale, the insider owned 23,773 shares of the company’s stock, valued at approximately $7,132,850.92. This represents a 12.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 24,665 shares of company stock valued at $7,438,000 in the last three months. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems 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.