Shell Asset Management Co. Has $576,000 Position in Veeva Systems Inc. $VEEV

Shell Asset Management Co. reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 87.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,935 shares of the technology company’s stock after selling 13,852 shares during the period. Shell Asset Management Co.’s holdings in Veeva Systems were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Jensen Investment Management Inc. grew its stake in Veeva Systems by 1,924.5% during the third quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock valued at $123,100,000 after acquiring an additional 392,802 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock valued at $1,146,040,000 after purchasing an additional 388,864 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of Veeva Systems during the third quarter valued at about $422,241,000. Compass Wealth Management LLC bought a new stake in shares of Veeva Systems in the third quarter worth about $18,694,000. Finally, ABN AMRO Bank N.V. bought a new stake in shares of Veeva Systems in the third quarter worth about $246,625,000. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 23,204 shares of the company’s stock, valued at $5,370,101.72. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.30% of the stock is owned by insiders.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $174.42 on Tuesday. Veeva Systems Inc. has a 52-week low of $168.13 and a 52-week high of $310.50. The firm has a market capitalization of $28.67 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 1.21 and a beta of 1.08. The stock has a 50 day moving average price of $214.85 and a 200 day moving average price of $256.58.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data 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 firm had revenue of $0.81 million during the quarter, compared to the consensus estimate of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company 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. Analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems announced that its board has approved a share repurchase program on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on VEEV shares. Truist Financial raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Thursday, January 8th. Robert W. Baird lifted their price objective on shares of Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. BMO Capital Markets initiated 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 on the stock. Weiss Ratings cut shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, BTIG Research reiterated a “buy” rating and issued a $340.00 price target on shares of Veeva Systems in a research report on Friday, November 21st. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price 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.