Veeva Systems Inc. $VEEV Shares Purchased by Snider Financial Group

Snider Financial Group boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 31.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,000 shares of the technology company’s stock after purchasing an additional 4,732 shares during the quarter. Veeva Systems makes up 1.2% of Snider Financial Group’s portfolio, making the stock its 27th biggest holding. Snider Financial Group’s holdings in Veeva Systems were worth $4,465,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in VEEV. GPS Wealth Strategies Group LLC increased its stake in 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 during the last quarter. Board of the Pension Protection Fund acquired a new position in Veeva Systems in the fourth quarter valued at $27,000. Raiffeisen Bank International AG acquired a new position in Veeva Systems in the third quarter valued at $28,000. Newbridge Financial Services Group Inc. increased its stake in Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Finally, OLD Second National Bank of Aurora acquired a new position in Veeva Systems in the third quarter valued at $30,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

VEEV stock opened at $172.40 on Wednesday. Veeva Systems Inc. has a 1 year low of $168.13 and a 1 year high of $310.50. The firm has a market cap of $28.16 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 1.15 and a beta of 1.10. The stock has a 50-day simple moving average of $183.66 and a 200-day simple moving average of $231.84.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The business had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. During the same quarter last year, the firm earned $1.74 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, equities research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems announced that its board has initiated a share repurchase plan 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 plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,000 shares of the 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 owned 23,204 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group upped their price target on Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Piper Sandler dropped their price target on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Truist Financial restated a “buy” rating and set a $262.00 price target (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Royal Bank Of Canada dropped their price target on Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Finally, Citigroup dropped their price target on Veeva Systems from $319.00 to $291.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Seventeen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.70.

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.