Veeva Systems (NYSE:VEEV) to Buyback $2.00 billion in Stock

Veeva Systems (NYSE:VEEV) declared that its Board of Directors has authorized a share repurchase program on Monday, January 5th, RTT News reports. The company plans to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Veeva Systems Trading Up 0.8%

VEEV stock traded up $1.81 during mid-day trading on Monday, reaching $221.30. The company’s stock had a trading volume of 1,574,923 shares, compared to its average volume of 1,426,041. The company’s 50 day moving average is $250.89 and its two-hundred day moving average is $272.11. The stock has a market cap of $36.38 billion, a PE ratio of 43.05, a P/E/G ratio of 1.62 and a beta of 1.07. Veeva Systems has a fifty-two week low of $201.54 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. The business had revenue of $0.81 million during 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 company’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm 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, analysts forecast that Veeva Systems will post 4.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VEEV shares. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research report on Friday, October 17th. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Jefferies Financial Group restated a “buy” rating and set a $330.00 price objective on shares of Veeva Systems in a research report on Monday, November 24th. JPMorgan Chase & Co. raised Veeva Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $290.00 to $330.00 in a research note on Monday, September 8th. Finally, BMO Capital Markets assumed coverage on shares of Veeva Systems in a report on Thursday, November 13th. They issued a “market perform” rating and a $300.00 target price for the company. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $307.42.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value of $1,839,720.00. Following the sale, the insider owned 25,325 shares of the company’s stock, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.30% of the company’s stock.

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.