Sienna Gestion Increases Position in Veeva Systems Inc. $VEEV

Key Points

• Sienna Gestion boosted its position in Veeva by 82.3% in Q3, adding 14,453 shares to hold 32,011 shares valued at $8.695 million.
• Veeva beat Q results, reporting $2.06 EPS vs $1.94 expected and $835.95M in revenue vs $810.95M expected, with revenue up about 16% year‑over‑year.
• Board approved a $2.0 billion share repurchase (up to ~5.5% of shares); institutional ownership is high at 88.2% and analysts have a "Moderate Buy" consensus target of $284.91 versus the stock trading near $195.89.

Sienna Gestion lifted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 82.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,011 shares of the technology company's stock after buying an additional 14,453 shares during the quarter. Sienna Gestion's holdings in Veeva Systems were worth $8,695,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake 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 worth $4,596,522,000 after purchasing an additional 457,806 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Veeva Systems by 3.7% during the second quarter. Alliancebernstein L.P. now owns 5,705,648 shares of the technology company's stock valued at $1,643,113,000 after purchasing an additional 205,997 shares during the period. Principal Financial Group Inc. grew its holdings in shares of 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 worth $1,146,040,000 after purchasing an additional 388,864 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Veeva Systems by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company's stock worth $1,035,622,000 after purchasing an additional 159,984 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Veeva Systems by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,092,539 shares of the technology company's stock worth $888,108,000 after buying an additional 114,003 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Down 0.1%

Shares of NYSE:VEEV opened at $195.89 on Monday. The firm has a 50 day moving average of $203.47 and a 200 day moving average of $246.91. The company has a market capitalization of $32.20 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 1.35 and a beta of 1.09. Veeva Systems Inc. has a 52 week low of $168.13 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $835.95 million for the quarter, compared to analysts' expectations of $810.95 million. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, sell-side analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems declared that its Board of Directors has initiated a share repurchase program on Monday, January 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VEEV shares. UBS Group lifted their price objective on shares of Veeva Systems from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday. KeyCorp reaffirmed a "sector weight" rating on shares of Veeva Systems in a research report on Friday, December 12th. Morgan Stanley lifted their price target on shares of Veeva Systems from $205.00 to $215.00 and gave the company an "equal weight" rating in a research note on Thursday. Royal Bank Of Canada lowered their price target on Veeva Systems from $330.00 to $275.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Piper Sandler dropped their price objective on Veeva Systems from $355.00 to $285.00 and set an "overweight" rating on the stock in a research note on Thursday. Seventeen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $284.91.

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 completion of the transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.30% of the stock is owned by company 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.

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