Envestnet Portfolio Solutions Inc. Acquires 2,931 Shares of Veeva Systems Inc. $VEEV

Envestnet Portfolio Solutions Inc. boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,859 shares of the technology company’s stock after purchasing an additional 2,931 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Veeva Systems were worth $6,810,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VEEV. Trust Co. of Toledo NA OH bought a new stake in shares of Veeva Systems in the 2nd quarter valued at about $29,000. OLD Second National Bank of Aurora purchased a new position in Veeva Systems in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in Veeva Systems in the 2nd quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC lifted its position in Veeva Systems by 58.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Veeva Systems during the second quarter valued at approximately $41,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Veeva Systems 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 completion of the transaction, the insider owned 23,204 shares in the company, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VEEV. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Veeva Systems in a research note on Tuesday, November 25th. Barclays decreased their price objective on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Citigroup lowered their price objective on shares of Veeva Systems from $349.00 to $319.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Truist Financial upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Thursday, January 8th. Finally, BMO Capital Markets assumed coverage on Veeva Systems in a research note on Thursday, November 13th. They issued a “market perform” rating and a $300.00 target price on the stock. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $308.04.

Veeva Systems Trading Down 1.5%

Shares of VEEV opened at $221.87 on Friday. Veeva Systems Inc. has a 1-year low of $201.54 and a 1-year high of $310.50. The firm’s 50-day moving average price is $232.59 and its 200-day moving average price is $266.93. The firm has a market capitalization of $36.47 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.64 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.95 by $0.09. The business 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%. Veeva Systems’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business 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. On average, research analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, January 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the technology company to repurchase up to 5.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is 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.