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

Envestnet Portfolio Solutions Inc. grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 14.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,859 shares of the technology company’s stock after acquiring an additional 2,931 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Veeva Systems were worth $6,810,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new position in Veeva Systems during the 2nd quarter valued at approximately $29,000. OLD Second National Bank of Aurora bought a new stake in Veeva Systems in the third quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Veeva Systems in the second quarter worth $32,000. Cary Street Partners Investment Advisory LLC grew its stake 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 worth $38,000 after acquiring an additional 49 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Veeva Systems during the second quarter valued at $41,000. 88.20% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems 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 owned 23,204 shares of the company’s stock, valued at $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VEEV shares. Wells Fargo & Company lowered their price target on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. TD Cowen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $297.00 to $380.00 in a research note on Tuesday, October 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $330.00 target price on shares of Veeva Systems in a research note on Monday, November 24th. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Citigroup reduced their price target on shares of Veeva Systems from $349.00 to $319.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Stock Down 1.5%

Shares of NYSE VEEV opened at $221.87 on Friday. The firm’s 50-day moving average price is $232.59 and its 200-day moving average price is $266.93. Veeva Systems Inc. has a 52-week low of $201.54 and a 52-week high of $310.50. The company has a market cap of $36.47 billion, a PE 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 earnings per share 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 company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. During the same quarter in the prior year, the firm earned $1.75 earnings per share. The firm’s revenue for the quarter 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. As a group, equities research analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its board has initiated a share buyback plan on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to repurchase up to 5.5% of its stock through open market purchases. Stock buyback plans are often 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.