Veeva Systems Inc. $VEEV Shares Bought by Assetmark Inc.

Assetmark Inc. increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 22.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,294 shares of the technology company’s stock after buying an additional 19,695 shares during the quarter. Assetmark Inc. owned about 0.07% of Veeva Systems worth $32,262,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of VEEV. Vanguard Group Inc. raised its position in shares of Veeva Systems by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,971,425 shares of the technology company’s stock valued at $4,311,471,000 after acquiring an additional 210,859 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Veeva Systems by 3.7% in the second quarter. Alliancebernstein L.P. now owns 5,705,648 shares of the technology company’s stock worth $1,643,113,000 after purchasing an additional 205,997 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Veeva Systems by 11.2% during the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock valued at $1,146,040,000 after purchasing an additional 388,864 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Veeva Systems by 2.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,316,274 shares of the technology company’s stock worth $955,030,000 after acquiring an additional 85,516 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Veeva Systems by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,092,539 shares of the technology company’s stock valued at $888,108,000 after purchasing an additional 114,003 shares during the period. 88.20% of the stock is 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 company’s stock in a transaction dated 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 of the company’s stock, valued at $5,370,101.72. This represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VEEV. Weiss Ratings cut Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a research report on Monday, November 24th. Wells Fargo & Company lowered their price target on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. Canaccord Genuity Group reissued a “buy” rating on shares of Veeva Systems in a research report on Tuesday, November 25th. Finally, Wall Street Zen downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Trading Up 1.4%

VEEV stock opened at $174.42 on Friday. Veeva Systems Inc. has a 1-year low of $168.13 and a 1-year high of $310.50. The firm has a market cap of $28.67 billion, a PE ratio of 33.93, a P/E/G ratio of 1.19 and a beta of 1.08. The business’s 50-day moving average price is $216.14 and its two-hundred day moving average price is $257.77.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The firm had revenue of $0.81 million during the quarter, compared to analysts’ expectations of $792.37 million. During the same quarter in the prior year, the company earned $1.75 EPS. The company’s revenue was up 16.0% on a year-over-year basis. 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 forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems announced that its board has authorized a stock repurchase plan on Monday, January 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the technology company to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.