Vanguard Group Inc. Purchases 457,806 Shares of Veeva Systems Inc. $VEEV

Vanguard Group Inc. increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,429,231 shares of the technology company’s stock after purchasing an additional 457,806 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Veeva Systems worth $4,596,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC lifted its holdings in shares of Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after buying an additional 55 shares in the last quarter. OLD Second National Bank of Aurora bought a new position in Veeva Systems during the third quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new stake in Veeva Systems in the 2nd quarter worth about $32,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Veeva Systems by 58.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock valued at $38,000 after purchasing an additional 49 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Veeva Systems during the 2nd quarter worth approximately $41,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Veeva Systems stock opened at $176.79 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 $29.06 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The stock has a fifty day moving average of $213.75 and a 200-day moving average of $255.85.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. The firm had revenue of $0.81 million for the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. On average, research analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems announced that its board has authorized a stock buyback plan on Monday, January 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the sale, the insider owned 23,204 shares in the company, valued at $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 10.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of analyst reports. Robert W. Baird lifted their price target on shares of Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Veeva Systems in a report on Tuesday, November 25th. Wells Fargo & Company cut their target price on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Citigroup decreased their price target on Veeva Systems from $349.00 to $319.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Veeva Systems in a research note on Friday, December 12th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $307.33.

Veeva Systems Company 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.