UNIVEST FINANCIAL Corp Sells 6,743 Shares of Veeva Systems Inc. $VEEV

UNIVEST FINANCIAL Corp lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 38.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,806 shares of the technology company’s stock after selling 6,743 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Veeva Systems were worth $3,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wendell David Associates Inc. raised its position in shares of Veeva Systems by 19.7% during the third quarter. Wendell David Associates Inc. now owns 23,214 shares of the technology company’s stock worth $6,916,000 after purchasing an additional 3,823 shares during the period. iA Global Asset Management Inc. increased its position in shares of Veeva Systems by 26.4% during the third quarter. iA Global Asset Management Inc. now owns 3,502 shares of the technology company’s stock worth $1,043,000 after acquiring an additional 731 shares in the last quarter. FWG Holdings LLC raised its holdings in shares of Veeva Systems by 5.8% during the third quarter. FWG Holdings LLC now owns 2,155 shares of the technology company’s stock worth $618,000 after acquiring an additional 118 shares during the period. Leelyn Smith LLC raised its stake in shares of Veeva Systems by 5.1% in the 3rd quarter. Leelyn Smith LLC now owns 9,348 shares of the technology company’s stock valued at $2,785,000 after purchasing an additional 451 shares during the period. Finally, Triad Wealth Partners LLC lifted its holdings in shares of Veeva Systems by 13.5% in the third quarter. Triad Wealth Partners LLC now owns 927 shares of the technology company’s stock valued at $276,000 after purchasing an additional 110 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $355.00 target price on shares of Veeva Systems in a research note on Friday, November 21st. Citigroup cut their price objective on shares of Veeva Systems from $349.00 to $319.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Canaccord Genuity Group restated a “buy” rating on shares of Veeva Systems in a report on Tuesday, November 25th. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research note on Friday, October 17th. Finally, Weiss Ratings downgraded shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Price Performance

Veeva Systems stock opened at $225.11 on Friday. The company’s 50-day moving average is $234.01 and its 200-day moving average is $267.44. The firm has a market capitalization of $37.00 billion, a PE ratio of 43.80, a P/E/G ratio of 1.62 and a beta of 1.07. Veeva Systems Inc. has a fifty-two week low of $201.54 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The firm had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. During the same quarter in the previous year, the business earned $1.75 earnings per share. The business’s revenue 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. As a group, analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems declared that its Board of Directors has approved a share buyback plan on Monday, January 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes 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.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction 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 completion of the transaction, the insider directly owned 23,204 shares of the company’s stock, valued at $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.