JPMorgan Chase & Co. Purchases 159,984 Shares of Veeva Systems Inc. $VEEV

JPMorgan Chase & Co. increased its position in Veeva Systems Inc. (NYSE:VEEV) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,476,258 shares of the technology company’s stock after acquiring an additional 159,984 shares during the quarter. JPMorgan Chase & Co. owned about 2.11% of Veeva Systems worth $1,035,622,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VEEV. State of New Jersey Common Pension Fund D increased its stake in shares of Veeva Systems by 3.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 54,513 shares of the technology company’s stock worth $16,240,000 after purchasing an additional 2,001 shares in the last quarter. Hardy Reed LLC bought a new position in Veeva Systems in the 3rd quarter worth approximately $452,000. PNC Financial Services Group Inc. grew its stake in Veeva Systems by 5.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 26,043 shares of the technology company’s stock valued at $7,758,000 after buying an additional 1,320 shares in the last quarter. Snider Financial Group raised its holdings in Veeva Systems by 2.6% during the 3rd quarter. Snider Financial Group now owns 15,268 shares of the technology company’s stock valued at $4,548,000 after acquiring an additional 389 shares during the period. Finally, Aberdeen Group plc lifted its position in shares of Veeva Systems by 5.9% during the third quarter. Aberdeen Group plc now owns 81,266 shares of the technology company’s stock worth $23,811,000 after acquiring an additional 4,502 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

Shares of VEEV opened at $176.79 on Wednesday. The firm has a market cap of $29.06 billion, a P/E ratio of 34.40, a P/E/G ratio of 1.21 and a beta of 1.08. The stock has a 50 day simple moving average of $213.75 and a two-hundred day simple moving average of $255.85. Veeva Systems Inc. has a 1 year low of $168.13 and a 1 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 EPS for the quarter, topping the consensus estimate of $1.95 by $0.09. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The firm had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. During the same period last year, the firm posted $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. On average, equities 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 reacquire up to 5.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VEEV. BTIG Research restated a “buy” rating and issued a $340.00 price objective on shares of Veeva Systems in a research report on Friday, November 21st. Weiss Ratings lowered shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Robert W. Baird increased their price objective on Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Wells Fargo & Company dropped their price objective on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Finally, KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a research note on Friday, December 12th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $307.33.

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.