Snider Financial Group Raises Stock Holdings in Veeva Systems Inc. $VEEV

Snider Financial Group boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 31.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,000 shares of the technology company’s stock after purchasing an additional 4,732 shares during the period. Veeva Systems comprises 1.2% of Snider Financial Group’s portfolio, making the stock its 27th largest position. Snider Financial Group’s holdings in Veeva Systems were worth $4,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Veeva Systems by 3.1% in the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after purchasing an additional 457,806 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Veeva Systems by 4.1% in the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after purchasing an additional 235,983 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 11.2% in the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock valued at $1,146,040,000 after purchasing an additional 388,864 shares during the last quarter. State Street Corp boosted its holdings in Veeva Systems by 2.2% in the third quarter. State Street Corp now owns 3,503,730 shares of the technology company’s stock valued at $1,043,796,000 after purchasing an additional 76,397 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Veeva Systems by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock valued at $1,035,622,000 after purchasing an additional 159,984 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on Veeva Systems from $212.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, March 5th. UBS Group increased their price target on Veeva Systems from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Wall Street Zen downgraded Veeva Systems from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Canaccord Genuity Group reduced their price target on Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. reduced their target price on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.70.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction that occurred 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 $5,370,101.72. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Down 1.3%

NYSE:VEEV opened at $172.40 on Wednesday. The business’s 50 day moving average is $183.66 and its two-hundred day moving average is $231.84. Veeva Systems Inc. has a 52 week low of $168.13 and a 52 week high of $310.50. The company has a market cap of $28.16 billion, a PE ratio of 31.87, a P/E/G ratio of 1.15 and a beta of 1.10.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, topping 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 company had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. During the same quarter last year, the business posted $1.74 EPS. Veeva Systems’s quarterly revenue 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. As a group, sell-side analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its Board of Directors has initiated a stock repurchase program on Monday, January 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire 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 stock is undervalued.

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.