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

Rhumbline Advisers lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 203,693 shares of the technology company’s stock after selling 10,366 shares during the quarter. Rhumbline Advisers’ holdings in Veeva Systems were worth $60,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of VEEV. GPS Wealth Strategies Group LLC lifted its stake in shares of Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after buying an additional 55 shares in the last quarter. OLD Second National Bank of Aurora bought a new stake 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 in the 2nd quarter worth about $32,000. Cary Street Partners Investment Advisory LLC lifted its position in 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 acquiring an additional 49 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Veeva Systems in the second quarter worth approximately $41,000. Institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 10.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $330.00 target price on shares of Veeva Systems in a research report on Monday, November 24th. Weiss Ratings cut Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Wells Fargo & Company cut their price objective on shares of Veeva Systems from $341.00 to $333.00 and set an “overweight” rating on the stock in a report on Tuesday, November 25th. BMO Capital Markets began 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. Finally, Robert W. Baird raised their price target on shares of Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Eighteen investment 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. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Price Performance

NYSE VEEV opened at $171.99 on Friday. The business’s fifty day moving average is $217.49 and its 200-day moving average is $258.59. The stock has a market capitalization of $28.27 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 1.23 and a beta of 1.08. Veeva Systems Inc. has a one year low of $168.13 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.09. The company had revenue of $0.81 million during the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $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. Research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems declared that its board has authorized a stock repurchase program on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Veeva Systems 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.