Wendell David Associates Inc. Increases Stock Position in Veeva Systems Inc. $VEEV

Wendell David Associates Inc. lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 19.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,214 shares of the technology company’s stock after purchasing an additional 3,823 shares during the period. Wendell David Associates Inc.’s holdings in Veeva Systems were worth $6,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $29,000. OLD Second National Bank of Aurora purchased a new stake in shares of Veeva Systems during the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Veeva Systems during the second quarter worth $32,000. Maseco LLP purchased a new position in Veeva Systems in the second quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Veeva Systems by 58.3% in 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 period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. TD Cowen upgraded Veeva Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $297.00 to $380.00 in a research note on Tuesday, October 7th. BTIG Research reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Veeva Systems in a research report on Friday, November 21st. Citigroup reduced their price objective on Veeva Systems from $349.00 to $319.00 and set a “buy” rating for the company in a report on Monday, November 24th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Veeva Systems in a report on Tuesday, November 25th. Finally, BMO Capital Markets started coverage on Veeva Systems in a report on Thursday, November 13th. They issued a “market perform” rating and a $300.00 price target for the company. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Stock Performance

NYSE VEEV opened at $225.11 on Friday. Veeva Systems Inc. has a 52-week low of $201.54 and a 52-week high of $310.50. The company has a fifty day moving average of $234.01 and a 200-day moving average of $267.44. The company has a market capitalization of $37.00 billion, a P/E ratio of 43.80, a P/E/G ratio of 1.62 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. The firm had revenue of $0.81 million during 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 revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business 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. As a group, analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its Board of Directors has approved a share buyback plan on Monday, January 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the transaction, the insider 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.30% of the stock is currently owned by company insiders.

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.