Rhumbline Advisers Has $60.68 Million Position in Veeva Systems Inc. $VEEV

Rhumbline Advisers cut its position in Veeva Systems Inc. (NYSE:VEEV) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 203,693 shares of the technology company’s stock after selling 10,366 shares during the quarter. Rhumbline Advisers owned 0.12% of Veeva Systems worth $60,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Alphinity Investment Management Pty Ltd bought a new position in Veeva Systems in the 3rd quarter valued at approximately $422,241,000. Norges Bank bought a new position in shares of Veeva Systems during the second quarter valued at $384,265,000. Durable Capital Partners LP acquired a new position in shares of Veeva Systems during the second quarter worth $281,351,000. AQR Capital Management LLC lifted its holdings in shares of Veeva Systems by 111.7% during the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock worth $526,508,000 after purchasing an additional 969,905 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of Veeva Systems by 1,039.4% in the second quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock worth $292,292,000 after purchasing an additional 925,896 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Down 2.9%

Shares of VEEV stock opened at $171.99 on Friday. The firm has a 50 day moving average of $217.49 and a 200-day moving average of $258.59. The company has a market cap of $28.27 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 1.23 and a beta of 1.08. Veeva Systems Inc. has a 52 week low of $168.13 and a 52 week high of $310.50.

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 company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. Veeva Systems’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.75 EPS. 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. Analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems declared that its Board of Directors has initiated a stock repurchase program on Monday, January 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

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

Analysts Set New Price Targets

VEEV has been the topic of several recent research reports. Citigroup cut their target price on Veeva Systems from $349.00 to $319.00 and set a “buy” rating on the stock in a report on Monday, November 24th. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a research note on Friday, October 17th. BMO Capital Markets initiated coverage on Veeva Systems in a report on Thursday, November 13th. They issued a “market perform” rating and a $300.00 target price on the stock. Canaccord Genuity Group restated a “buy” rating on shares of Veeva Systems in a report on Tuesday, November 25th. Finally, Barclays dropped their price target 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. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $308.04.

About Veeva Systems

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.