JPMorgan Chase & Co. Purchases 159,984 Shares of Veeva Systems Inc. $VEEV

JPMorgan Chase & Co. boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 4.8% during the third quarter, Holdings Channel.com reports. The fund owned 3,476,258 shares of the technology company’s stock after acquiring an additional 159,984 shares during the period. JPMorgan Chase & Co.’s holdings in Veeva Systems were worth $1,035,622,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of VEEV. State of New Jersey Common Pension Fund D boosted its holdings in shares of Veeva Systems by 3.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 54,513 shares of the technology company’s stock worth $16,240,000 after purchasing an additional 2,001 shares during the period. Hardy Reed LLC purchased a new stake in Veeva Systems in the 3rd quarter worth approximately $452,000. PNC Financial Services Group Inc. grew its position in shares of Veeva Systems by 5.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 26,043 shares of the technology company’s stock worth $7,758,000 after buying an additional 1,320 shares during the last quarter. Snider Financial Group grew its position in shares of Veeva Systems by 2.6% in the 3rd quarter. Snider Financial Group now owns 15,268 shares of the technology company’s stock worth $4,548,000 after buying an additional 389 shares during the last quarter. Finally, Aberdeen Group plc increased its stake in shares of Veeva Systems by 5.9% during the third quarter. Aberdeen Group plc now owns 81,266 shares of the technology company’s stock valued at $23,811,000 after buying an additional 4,502 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the 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 sale, the insider owned 23,204 shares in the company, valued at $5,370,101.72. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 10.30% of the company’s stock.

Veeva Systems Stock Up 1.5%

VEEV stock opened at $176.79 on Wednesday. The business has a 50 day moving average of $213.75 and a 200 day moving average of $255.85. The firm has a market cap of $29.06 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. Veeva Systems Inc. has a twelve month low of $168.13 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV) last released 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 firm had revenue of $0.81 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm 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. On average, research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems announced that its board has approved a share buyback program on Monday, January 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology company to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Robert W. Baird lifted their price target 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. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Veeva Systems in a research report on Tuesday, November 25th. The Goldman Sachs Group began coverage on Veeva Systems in a research note on Tuesday, January 13th. They issued a “sell” rating and a $215.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $355.00 price target on shares of Veeva Systems in a research note on Friday, November 21st. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.33.

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.