Spire Wealth Management Increases Stock Holdings in Veeva Systems Inc. $VEEV

Spire Wealth Management increased its position in Veeva Systems Inc. (NYSE:VEEV) by 7,006.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,964 shares of the technology company’s stock after acquiring an additional 20,669 shares during the quarter. Spire Wealth Management’s holdings in Veeva Systems were worth $6,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new stake in Veeva Systems in the 2nd quarter worth approximately $29,000. OLD Second National Bank of Aurora bought a new position in shares of Veeva Systems in the third quarter worth $30,000. Legacy Investment Solutions LLC bought a new position in shares of Veeva Systems in the second quarter worth $32,000. Maseco LLP purchased a new stake in shares of Veeva Systems in the second quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in Veeva Systems by 58.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock valued at $38,000 after buying an additional 49 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV stock opened at $239.08 on Thursday. Veeva Systems Inc. has a 1-year low of $201.54 and a 1-year high of $310.50. The business has a 50-day moving average of $248.87 and a 200 day moving average of $271.59. The stock has a market capitalization of $39.30 billion, a PE ratio of 46.51, a P/E/G ratio of 1.76 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.09. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The firm had revenue of $0.81 million for the quarter, compared to analysts’ expectations of $792.37 million. During the same quarter last year, the business earned $1.75 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. 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. Analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems declared that its Board of Directors has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group restated a “buy” rating and issued a $330.00 target price on shares of Veeva Systems in a research note on Monday, November 24th. KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. Needham & Company LLC reiterated a “buy” rating and set a $355.00 target price on shares of Veeva Systems in a research report on Friday, November 21st. BTIG Research reissued a “buy” rating and issued a $340.00 price target on shares of Veeva Systems in a research note on Friday, November 21st. Finally, Barclays lowered their price objective on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.42.

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.