Veeva Systems Inc. $VEEV Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 87.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,935 shares of the technology company’s stock after selling 13,852 shares during the quarter. Shell Asset Management Co.’s holdings in Veeva Systems were worth $576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VEEV. Vanguard Group Inc. raised its holdings in shares of Veeva Systems by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,971,425 shares of the technology company’s stock worth $4,311,471,000 after acquiring an additional 210,859 shares during the period. Alliancebernstein L.P. increased its position in Veeva Systems by 3.7% during the second quarter. Alliancebernstein L.P. now owns 5,705,648 shares of the technology company’s stock worth $1,643,113,000 after purchasing an additional 205,997 shares during the last quarter. Principal Financial Group Inc. raised its stake in Veeva Systems by 11.2% during the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock worth $1,146,040,000 after purchasing an additional 388,864 shares during the period. JPMorgan Chase & Co. boosted its holdings in Veeva Systems by 2.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,316,274 shares of the technology company’s stock valued at $955,030,000 after purchasing an additional 85,516 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Veeva Systems by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,092,539 shares of the technology company’s stock valued at $888,108,000 after purchasing an additional 114,003 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction dated 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. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Price Performance

VEEV stock opened at $174.42 on Tuesday. The business’s 50-day moving average is $214.85 and its two-hundred day moving average is $256.58. The firm has a market capitalization of $28.67 billion, a P/E ratio of 33.93, a P/E/G ratio of 1.21 and a beta of 1.08. Veeva Systems Inc. has a 1 year low of $168.13 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.95 by $0.09. The company had revenue of $0.81 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous 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, analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems announced that its board has approved a stock buyback plan 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 plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently commented on VEEV. UBS Group decreased their price objective on Veeva Systems from $310.00 to $280.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Weiss Ratings lowered Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Truist Financial upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Thursday, January 8th. Robert W. Baird boosted their price objective on shares of Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Finally, BTIG Research reaffirmed a “buy” rating and set a $340.00 target price on shares of Veeva Systems in a research note on Friday, November 21st. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $308.04.

Veeva Systems Company 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.