OVERSEA CHINESE BANKING Corp Ltd Buys 393 Shares of Veeva Systems Inc. $VEEV

OVERSEA CHINESE BANKING Corp Ltd raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 22.9% in the second quarter, Holdings Channel reports. The fund owned 2,106 shares of the technology company’s stock after purchasing an additional 393 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Veeva Systems were worth $606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VEEV. Nuveen LLC bought a new position in shares of Veeva Systems in the first quarter worth about $365,684,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Veeva Systems by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock worth $924,754,000 after acquiring an additional 689,700 shares during the last quarter. Linonia Partnership LP lifted its holdings in shares of Veeva Systems by 52.7% in the first quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company’s stock worth $425,402,000 after acquiring an additional 633,585 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Veeva Systems by 48.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,799,931 shares of the technology company’s stock worth $416,918,000 after acquiring an additional 585,785 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Veeva Systems by 10.7% in the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock worth $1,273,884,000 after acquiring an additional 532,269 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on Veeva Systems from $329.00 to $349.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Wells Fargo & Company upped their price objective on Veeva Systems from $300.00 to $326.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. TD Cowen raised Veeva Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $297.00 to $380.00 in a research note on Tuesday, October 7th. UBS Group upped their price objective on Veeva Systems from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Finally, Mizuho upped their price objective on Veeva Systems from $295.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $307.58.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were 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 of the company’s stock, valued at $2,345,608.16. This trade represents a 8.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the sale, the insider directly owned 25,325 shares of the company’s stock, valued at approximately $7,765,151.50. This trade represents a 19.15% 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 in the last quarter. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Stock Performance

NYSE:VEEV opened at $295.64 on Tuesday. The company has a market capitalization of $48.46 billion, a PE ratio of 60.71, a P/E/G ratio of 2.26 and a beta of 0.98. The company has a 50 day simple moving average of $284.95 and a two-hundred day simple moving average of $270.59. Veeva Systems Inc. has a fifty-two week low of $201.54 and a fifty-two week high of $310.50.

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

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.