Assetmark Inc. Purchases 19,695 Shares of Veeva Systems Inc. $VEEV

Assetmark Inc. boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 22.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,294 shares of the technology company’s stock after buying an additional 19,695 shares during the quarter. Assetmark Inc.’s holdings in Veeva Systems were worth $32,262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VEEV. GPS Wealth Strategies Group LLC grew its position in shares of Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after purchasing an additional 55 shares in the last quarter. OLD Second National Bank of Aurora bought a new position in shares of Veeva Systems in the 3rd quarter worth $30,000. Legacy Investment Solutions LLC bought a new stake in Veeva Systems in the 2nd quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Veeva Systems by 58.3% during the 2nd 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 last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Veeva Systems during the 2nd quarter valued at about $41,000. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction 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 approximately $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.30% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of research analyst reports. The Goldman Sachs Group began coverage on shares of Veeva Systems in a research report on Tuesday, January 13th. They set a “sell” rating and a $215.00 price objective on the stock. BMO Capital Markets assumed coverage on shares of Veeva Systems in a report on Thursday, November 13th. They issued a “market perform” rating and a $300.00 target price for the company. KeyCorp reissued a “sector weight” rating on shares of Veeva Systems in a report on Friday, December 12th. UBS Group decreased their target price on shares of Veeva Systems from $310.00 to $280.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Finally, Barclays reduced their target price on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating for the company in a report on Friday, November 21st. Eighteen investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $308.04.

Veeva Systems Trading Up 1.4%

Shares of NYSE:VEEV opened at $174.42 on Friday. Veeva Systems Inc. has a 12 month low of $168.13 and a 12 month high of $310.50. The company has a market capitalization of $28.67 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 1.19 and a beta of 1.08. The firm’s 50-day moving average is $216.14 and its 200 day moving average is $257.77.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, November 20th. The technology company reported $2.04 EPS 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 net margin of 27.93% and a return on equity of 13.68%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $1.75 earnings per share. 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 analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its board has approved a stock repurchase program on Monday, January 5th that authorizes the company to buyback $2.00 billion in outstanding 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 usually an indication that the company’s leadership 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.