Van ECK Associates Corp Sells 677,674 Shares of Veeva Systems Inc. $VEEV

Van ECK Associates Corp lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 73.3% during the third quarter, HoldingsChannel reports. The fund owned 246,477 shares of the technology company’s stock after selling 677,674 shares during the quarter. Van ECK Associates Corp’s holdings in Veeva Systems were worth $73,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Veeva Systems by 3.1% during the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after purchasing an additional 457,806 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Veeva Systems by 3.7% in the 2nd quarter. Alliancebernstein L.P. now owns 5,705,648 shares of the technology company’s stock worth $1,643,113,000 after buying an additional 205,997 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock worth $1,146,040,000 after buying an additional 388,864 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Veeva Systems by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock worth $1,035,622,000 after buying an additional 159,984 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Veeva Systems by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,092,539 shares of the technology company’s stock valued at $888,108,000 after buying an additional 114,003 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $189.83 on Wednesday. Veeva Systems Inc. has a 52 week low of $168.13 and a 52 week high of $310.50. The stock has a market capitalization of $31.21 billion, a PE ratio of 35.09, a PEG ratio of 1.35 and a beta of 1.09. The stock’s fifty day moving average is $202.20 and its 200-day moving average is $245.59.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $835.95 million during the quarter, compared to analysts’ expectations of $810.95 million. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 earnings per share. 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, analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

VEEV has been the topic of a number of analyst reports. Needham & Company LLC lowered their price target on Veeva Systems from $355.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Canaccord Genuity Group reduced their target price on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. Wells Fargo & Company dropped their target price on shares of Veeva Systems from $333.00 to $317.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. BMO Capital Markets began coverage on shares of Veeva Systems in a report on Thursday, November 13th. They set a “market perform” rating and a $300.00 price target for the company. Finally, KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $283.70.

Veeva Systems News Summary

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Veeva announced the acquisition of Ostro, an AI‑driven brand engagement/chat platform for life sciences — a strategic bolt‑on to improve patient/physician engagement and add AI chat capabilities that can be cross‑sold into Veeva’s Commercial and Data Clouds; deal reported at ~$100M, signaling targeted M&A to accelerate growth. Veeva Systems Acquires Ostro for $100M
• Positive Sentiment: AOP Health is standardizing on the Veeva Industry Cloud across R&D, quality, commercial, and data — a notable customer win that supports recurring revenue and platform stickiness as Veeva ties development, quality and commercialization workflows for an international rare‑disease specialist. AOP Health Standardizes on Veeva Industry Cloud for Life Sciences Across All Business Areas
• Neutral Sentiment: Analysts and commentators note Veeva’s broader market positioning (including potential to support index/ETF performance), but these narratives are longer‑term and less likely to move the stock intraday compared with corporate actions and analyst revisions. Veeva Systems Success Could Support Russell 1000 ETF Performance Ahead
• Neutral Sentiment: Technical backdrop is unfavorable: price is below the 50‑day ($202.20) and 200‑day ($245.59) moving averages, which can exacerbate downside pressure while investors digest news and analyst revisions.
• Negative Sentiment: Citigroup lowered its VEEV price target from $319 to $291 while retaining a Buy rating — a material cut to upside expectations that can sap near‑term sentiment despite the firm still seeing significant upside vs. the current share price. Citigroup Has Lowered Expectations for Veeva Systems (NYSE:VEEV) Stock Price

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were 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 of the company’s stock, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.30% of the company’s stock.

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.