Veeva Systems Inc. $VEEV Shares Purchased by Wendell David Associates Inc.

Wendell David Associates Inc. boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,130 shares of the technology company’s stock after buying an additional 3,916 shares during the quarter. Wendell David Associates Inc.’s holdings in Veeva Systems were worth $6,056,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in VEEV. Alphinity Investment Management Pty Ltd acquired a new position in Veeva Systems in the 3rd quarter worth $422,241,000. Durable Capital Partners LP acquired a new position in Veeva Systems in the 2nd quarter worth $281,351,000. ABN AMRO Bank N.V. acquired a new position in Veeva Systems in the 3rd quarter worth $246,625,000. AQR Capital Management LLC lifted its holdings in Veeva Systems by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after buying an additional 574,164 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Veeva Systems by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock worth $4,596,522,000 after buying an additional 457,806 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $153.50, for a total value of $115,125.00. Following the completion of the transaction, the director owned 4,003 shares in the company, valued at approximately $614,460.50. This represents a 15.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.30% of the company’s stock.

Veeva Systems Stock Down 0.1%

Shares of NYSE:VEEV opened at $158.34 on Thursday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The company has a market cap of $25.86 billion, a PE ratio of 29.27, a P/E/G ratio of 0.72 and a beta of 1.10. The firm has a 50-day simple moving average of $175.23 and a 200 day simple moving average of $217.67.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The firm had revenue of $835.95 million during the quarter, compared to analysts’ expectations of $810.95 million. During the same quarter in the prior year, the firm earned $1.74 EPS. Veeva Systems’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. As a group, research analysts forecast that Veeva Systems Inc. will post 6.41 EPS for the current fiscal year.

Veeva Systems declared that its board has approved a stock repurchase program on Monday, January 5th that permits the company to repurchase $2.00 billion in 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 often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VEEV. Canaccord Genuity Group dropped their target price on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, March 5th. Wells Fargo & Company dropped their target price on shares of Veeva Systems from $333.00 to $317.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Citigroup downgraded shares of Veeva Systems from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $291.00 to $176.00 in a research report on Friday, April 10th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Finally, Royal Bank Of Canada dropped their target price on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.70.

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.