AlphaQuest LLC Increases Holdings in Veeva Systems Inc. $VEEV

AlphaQuest LLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 1,366.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,487 shares of the technology company’s stock after purchasing an additional 4,181 shares during the quarter. AlphaQuest LLC’s holdings in Veeva Systems were worth $1,337,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VEEV. GPS Wealth Strategies Group LLC raised its stake in Veeva Systems by 196.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after acquiring an additional 55 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Veeva Systems during the second quarter worth about $29,000. OLD Second National Bank of Aurora purchased a new position in shares of Veeva Systems during the third quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Veeva Systems during the second quarter worth about $32,000. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in shares of 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 last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. Barclays lowered their target price on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Needham & Company LLC reissued a “buy” rating and set a $355.00 price objective on shares of Veeva Systems in a research report on Friday, November 21st. Jefferies Financial Group restated a “buy” rating and issued a $330.00 price objective on shares of Veeva Systems in a research note on Monday, November 24th. Truist Financial upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Thursday, January 8th. Finally, Weiss Ratings cut Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $308.04.

Veeva Systems Price Performance

VEEV opened at $204.08 on Friday. Veeva Systems Inc. has a 1-year low of $201.54 and a 1-year high of $310.50. The stock has a market cap of $33.55 billion, a P/E ratio of 39.70, a P/E/G ratio of 1.55 and a beta of 1.07. The stock’s 50 day simple moving average is $227.25 and its 200 day simple moving average is $264.62.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 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 previous year, the firm earned $1.75 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. 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. Research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems declared that its Board of Directors has approved a stock repurchase program on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to buy up to 5.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,000 shares of the company’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 transaction of $231,430.00. Following the transaction, the insider owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. This 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 the SEC website. 10.30% of the stock is owned by corporate insiders.

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.