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

Alphinity Investment Management Pty Ltd acquired a new position in Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, HoldingsChannel reports. The fund acquired 1,417,345 shares of the technology company’s stock, valued at approximately $422,241,000. Veeva Systems comprises 4.1% of Alphinity Investment Management Pty Ltd’s investment portfolio, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC raised its holdings in shares of Veeva Systems by 196.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after purchasing an additional 55 shares during the period. Trust Co. of Toledo NA OH bought a new position in Veeva Systems during the second quarter valued at $29,000. OLD Second National Bank of Aurora bought a new position in Veeva Systems during the third quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new stake in Veeva Systems in the second quarter worth $32,000. Finally, Cary Street Partners Investment Advisory LLC raised 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 valued at $38,000 after buying an additional 49 shares during the period. 88.20% of the stock is currently 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 Veeva Systems stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the sale, the insider directly owned 23,204 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. 10.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VEEV has been the subject of several research reports. Robert W. Baird increased their price target on Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Barclays lowered their price objective on Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. KeyCorp reiterated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. Needham & Company LLC reiterated a “buy” rating and issued a $355.00 target price on shares of Veeva Systems in a research note on Friday, November 21st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a research report on Monday, November 24th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Stock Performance

NYSE:VEEV 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 P/E/G ratio of 1.27 and a beta of 1.08. Veeva Systems Inc. has a 52-week low of $177.88 and a 52-week high of $310.50. The stock has a fifty day moving average of $222.33 and a 200 day moving average of $261.43.

Veeva Systems (NYSE:VEEV) last announced 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 business had revenue of $0.81 million for the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $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. Equities analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems announced that its board has initiated a share repurchase program on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 5.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.