Veeva Systems Inc. $VEEV Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 60.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 821,286 shares of the technology company’s stock after purchasing an additional 309,653 shares during the period. Envestnet Asset Management Inc. owned approximately 0.50% of Veeva Systems worth $244,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC increased its holdings in shares of Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after buying an additional 55 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of Veeva Systems during the second quarter valued at $29,000. OLD Second National Bank of Aurora acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Veeva Systems in the 2nd quarter valued at $32,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in Veeva Systems by 58.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock worth $38,000 after purchasing an additional 49 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the sale, the insider owned 23,204 shares in the company, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VEEV shares. Citigroup decreased their target price on shares of Veeva Systems from $349.00 to $319.00 and set a “buy” rating for the company in a report on Monday, November 24th. BTIG Research reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Veeva Systems in a research note on Friday, November 21st. Weiss Ratings lowered Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Truist Financial raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Thursday, January 8th. Finally, Barclays dropped their price target on Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $183.74 on Friday. The business has a 50 day simple moving average of $223.46 and a 200 day simple moving average of $262.27. Veeva Systems Inc. has a 52 week low of $182.87 and a 52 week high of $310.50. The stock has a market cap of $30.20 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 1.32 and a beta of 1.08.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $792.37 million. During the same period in the previous year, the company earned $1.75 earnings per share. The company’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, analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems declared that its board has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.