Veeva Systems Inc. $VEEV Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 44.5% in the third quarter, Holdings Channel.com reports. The fund owned 38,454 shares of the technology company’s stock after acquiring an additional 11,842 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Veeva Systems were worth $11,775,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new position in Veeva Systems during the 2nd quarter valued at about $29,000. OLD Second National Bank of Aurora bought a new position in Veeva Systems during the third quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Veeva Systems in the second quarter worth about $32,000. Cary Street Partners Investment Advisory LLC raised its position in shares of 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 period. Finally, Elevation Point Wealth Partners LLC bought a new position in Veeva Systems in the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $221.87 on Friday. Veeva Systems Inc. has a 52-week low of $201.54 and a 52-week high of $310.50. The company’s 50 day moving average price is $232.59 and its 200-day moving average price is $267.03. The company has a market capitalization of $36.47 billion, a P/E ratio of 43.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data 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 return on equity of 13.68% and a net margin of 27.93%.The company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. During the same period in the previous year, the business earned $1.75 EPS. The firm’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. Analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems declared that its Board of Directors has approved a stock repurchase program 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 programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s 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 $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 10.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VEEV shares. The Goldman Sachs Group initiated coverage on shares of Veeva Systems in a report on Tuesday, January 13th. They set a “sell” rating and a $215.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Veeva Systems in a report on Friday, October 17th. Needham & Company LLC reissued a “buy” rating and issued a $355.00 price target on shares of Veeva Systems in a research note on Friday, November 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $330.00 price target on shares of Veeva Systems in a research report on Monday, November 24th. Finally, Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $308.04.

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.