Wendell David Associates Inc. Acquires 3,823 Shares of Veeva Systems Inc. $VEEV

Wendell David Associates Inc. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 19.7% during the third quarter, HoldingsChannel.com reports. The fund owned 23,214 shares of the technology company’s stock after buying an additional 3,823 shares during the quarter. Wendell David Associates Inc.’s holdings in Veeva Systems were worth $6,916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new position in Veeva Systems in the second quarter worth approximately $29,000. OLD Second National Bank of Aurora purchased a new stake in Veeva Systems in the 3rd quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in Veeva Systems during the 2nd quarter valued at $32,000. Maseco LLP purchased a new stake in Veeva Systems in the 2nd quarter worth about $35,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in 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 acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

NYSE VEEV opened at $225.11 on Friday. Veeva Systems Inc. has a one year low of $201.54 and a one year high of $310.50. The business has a fifty day moving average price of $234.01 and a 200 day moving average price of $267.44. The company has a market cap 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 results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.09. The firm had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last 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. As a group, sell-side analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its board has initiated a stock buyback program on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the transaction, the insider 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 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. KeyCorp reissued a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. William Blair restated an “outperform” rating on shares of Veeva Systems in a research note on Friday, October 17th. Truist Financial upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Thursday, January 8th. Canaccord Genuity Group reissued a “buy” rating on shares of Veeva Systems in a research report on Tuesday, November 25th. Finally, BTIG Research reissued a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research report on Friday, November 21st. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $308.04.

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.