1,417,345 Shares in Veeva Systems Inc. $VEEV Acquired by Alphinity Investment Management Pty Ltd

Alphinity Investment Management Pty Ltd bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,417,345 shares of the technology company’s stock, valued at approximately $422,241,000. Veeva Systems comprises about 4.1% of Alphinity Investment Management Pty Ltd’s portfolio, making the stock its 14th biggest holding. Alphinity Investment Management Pty Ltd owned 0.86% of Veeva Systems at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Correct Capital Wealth Management raised its holdings in Veeva Systems by 3.8% during the 3rd quarter. Correct Capital Wealth Management now owns 2,415 shares of the technology company’s stock worth $719,000 after purchasing an additional 89 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Veeva Systems by 36.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,583 shares of the technology company’s stock valued at $757,000 after purchasing an additional 687 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Veeva Systems by 2.4% during the third quarter. Alps Advisors Inc. now owns 6,393 shares of the technology company’s stock worth $1,905,000 after buying an additional 148 shares during the period. Concord Wealth Partners raised its stake in Veeva Systems by 262.5% during the third quarter. Concord Wealth Partners now owns 232 shares of the technology company’s stock worth $69,000 after buying an additional 168 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in Veeva Systems by 26.8% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,503 shares of the technology company’s stock worth $448,000 after buying an additional 318 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 sale, the insider directly owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on VEEV. Barclays cut their price target 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. Robert W. Baird boosted their price objective on Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Canaccord Genuity Group restated a “buy” rating on shares of Veeva Systems in a research report on Tuesday, November 25th. UBS Group lowered their target price on Veeva Systems from $310.00 to $280.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Finally, BTIG Research reissued a “buy” rating and issued a $340.00 price target on shares of Veeva Systems in a research note on Friday, November 21st. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Trading Down 0.1%

Veeva Systems stock opened at $183.63 on Friday. The firm has a market capitalization of $30.19 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 1.27 and a beta of 1.08. The firm’s fifty day moving average price is $222.33 and its two-hundred day moving average price is $261.43. Veeva Systems Inc. has a 1-year low of $177.88 and a 1-year high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. The company had revenue of $0.81 million for 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%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.75 EPS. 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 year.

Veeva Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, January 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows 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 board of directors believes its shares are 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.