Atlantic Union Bankshares Corp Increases Holdings in Veeva Systems Inc. $VEEV

Atlantic Union Bankshares Corp raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 104.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,362 shares of the technology company’s stock after purchasing an additional 6,838 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Veeva Systems were worth $3,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. GPS Wealth Strategies Group LLC raised its holdings in shares of Veeva Systems by 196.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after buying an additional 55 shares during the period. Trust Co. of Toledo NA OH acquired a new position in shares of Veeva Systems during the second quarter worth $29,000. OLD Second National Bank of Aurora acquired a new position in shares of Veeva Systems during the third quarter worth $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Veeva Systems in the second quarter valued at $32,000. Finally, Cary Street Partners Investment Advisory LLC grew 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 purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 6.3%

Shares of Veeva Systems stock opened at $190.60 on Wednesday. The business has a 50-day moving average price of $225.60 and a 200 day moving average price of $263.33. Veeva Systems Inc. has a fifty-two week low of $186.40 and a fifty-two week high of $310.50. The firm has a market cap of $31.33 billion, a P/E ratio of 37.08, a P/E/G ratio of 1.41 and a beta of 1.08.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The company had revenue of $0.81 million during the quarter, compared to analyst estimates of $792.37 million. During the same quarter last year, the firm earned $1.75 EPS. 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. As a group, equities research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Veeva Systems declared that its board has approved a stock buyback plan on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 5.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VEEV shares. UBS Group cut their price objective on shares of Veeva Systems from $310.00 to $280.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Robert W. Baird boosted their price target on Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. BMO Capital Markets assumed 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. Truist Financial upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Thursday, January 8th. Finally, Wells Fargo & Company cut their target price on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $308.04.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems 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 completion of the transaction, the insider directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.30% of the stock is currently owned by insiders.

Veeva Systems Company 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.