Veeva Systems Inc. $VEEV Shares Bought by Jain Global LLC

Jain Global LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 6.6% during the third quarter, Holdings Channel.com reports. The firm owned 82,522 shares of the technology company’s stock after purchasing an additional 5,079 shares during the period. Jain Global LLC’s holdings in Veeva Systems were worth $24,584,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Hilltop Holdings Inc. raised its holdings in Veeva Systems by 11.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,698 shares of the technology company’s stock valued at $506,000 after buying an additional 176 shares during the period. Holocene Advisors LP purchased a new position in Veeva Systems during the third quarter worth about $45,443,000. Gotham Asset Management LLC increased its position in shares of Veeva Systems by 97.0% during the third quarter. Gotham Asset Management LLC now owns 7,997 shares of the technology company’s stock valued at $2,382,000 after acquiring an additional 3,938 shares during the last quarter. Focus Partners Wealth increased its position in shares of Veeva Systems by 14.7% during the third quarter. Focus Partners Wealth now owns 31,096 shares of the technology company’s stock valued at $9,264,000 after acquiring an additional 3,982 shares during the last quarter. Finally, Circle Wealth Management LLC raised its stake in shares of Veeva Systems by 5.8% in the 3rd quarter. Circle Wealth Management LLC now owns 6,819 shares of the technology company’s stock valued at $2,031,000 after acquiring an additional 374 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $178.68 on Monday. The stock has a market capitalization of $29.37 billion, a P/E ratio of 33.03, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. The company has a 50 day moving average price of $199.82 and a 200 day moving average price of $243.33. Veeva Systems Inc. has a fifty-two week low of $168.13 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 14.11%. The company had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same period in the prior year, the business earned $1.74 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, research analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its Board of Directors has authorized a stock buyback program on Monday, January 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 5.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the 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 sale, the insider directly owned 23,204 shares in the company, valued at approximately $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays decreased their price objective on shares of Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings lowered Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Needham & Company LLC decreased their price target on Veeva Systems from $355.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Citigroup lowered their price target on Veeva Systems from $319.00 to $291.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Finally, Wells Fargo & Company dropped their price objective on Veeva Systems from $333.00 to $317.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.70.

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.