Veeva Systems Inc. $VEEV Holdings Lifted by Wendell David Associates Inc.

Wendell David Associates Inc. lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 16.9% in the fourth quarter, HoldingsChannel reports. The fund owned 27,130 shares of the technology company’s stock after purchasing an additional 3,916 shares during the quarter. Wendell David Associates Inc.’s holdings in Veeva Systems were worth $6,056,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC lifted its stake in shares of Veeva Systems by 196.4% in 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 during the period. Board of the Pension Protection Fund acquired a new stake in shares of Veeva Systems in the 4th quarter worth approximately $27,000. Raiffeisen Bank International AG acquired a new stake in shares of Veeva Systems in the 3rd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Finally, OLD Second National Bank of Aurora acquired a new stake in shares of Veeva Systems in the 3rd quarter worth approximately $30,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

VEEV stock opened at $158.34 on Thursday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The firm has a market cap of $25.86 billion, a PE ratio of 29.27, a P/E/G ratio of 0.72 and a beta of 1.10. The firm has a 50 day simple moving average of $175.23 and a 200 day simple moving average of $217.67.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. During the same period in the prior year, the business earned $1.74 earnings per share. The business’s quarterly revenue was up 16.0% on a year-over-year basis. 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, sell-side analysts expect that Veeva Systems Inc. will post 6.41 earnings per share for the current year.

Veeva Systems announced that its Board of Directors has approved a stock buyback plan on Monday, January 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on VEEV shares. UBS Group upped their price target on shares of Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. The Goldman Sachs Group started coverage on shares of Veeva Systems in a research note on Tuesday, January 13th. They issued a “sell” rating and a $215.00 price target for the company. Weiss Ratings lowered shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Citigroup lowered shares of Veeva Systems from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $291.00 to $176.00 in a research note on Friday, April 10th. Finally, Morgan Stanley upped their price target on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $278.70.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $153.50, for a total value of $115,125.00. Following the completion of the sale, the director owned 4,003 shares in the company, valued at approximately $614,460.50. This represents a 15.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.30% of the company’s stock.

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.