Veeva Systems Inc. $VEEV Shares Bought by Brighton Jones LLC

Brighton Jones LLC raised its position in Veeva Systems Inc. (NYSE:VEEV) by 80.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,789 shares of the technology company’s stock after buying an additional 3,909 shares during the quarter. Brighton Jones LLC’s holdings in Veeva Systems were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Veeva Systems in the 2nd quarter valued at $384,265,000. Durable Capital Partners LP purchased a new position in Veeva Systems during the 2nd quarter worth $281,351,000. AQR Capital Management LLC increased its stake in Veeva Systems by 111.7% in the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock valued at $526,508,000 after purchasing an additional 969,905 shares during the period. Schroder Investment Management Group raised its holdings in shares of Veeva Systems by 1,039.4% in the second quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock valued at $292,292,000 after buying an additional 925,896 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Veeva Systems by 423.8% in the second quarter. Los Angeles Capital Management LLC now owns 841,303 shares of the technology company’s stock valued at $242,278,000 after buying an additional 680,702 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 3,350 shares of the firm’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 transaction, the insider directly owned 23,773 shares of the company’s stock, valued at $7,132,850.92. This trade represents a 12.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider directly owned 25,325 shares in the company, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 24,665 shares of company stock worth $7,438,000. Insiders own 10.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial raised their price target on Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a report on Thursday, August 28th. BMO Capital Markets assumed coverage on Veeva Systems in a research report on Thursday, November 13th. They set a “market perform” rating and a $300.00 price objective for the company. UBS Group dropped their target price on Veeva Systems from $310.00 to $280.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. William Blair restated an “outperform” rating on shares of Veeva Systems in a research note on Friday, October 17th. Finally, Citigroup lowered their price objective on shares of Veeva Systems from $349.00 to $319.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $307.42.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $223.16 on Tuesday. The stock has a fifty day moving average price of $264.20 and a 200 day moving average price of $276.34. The stock has a market cap of $36.68 billion, a PE ratio of 43.42, a P/E/G ratio of 1.64 and a beta of 1.05. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.09. The company had revenue of $0.81 million for the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.Veeva Systems’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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. As a group, equities research analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

About Veeva Systems

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.