Wealth Enhancement Advisory Services LLC Sells 9,779 Shares of Veeva Systems Inc. $VEEV

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Veeva Systems by 25.4%, selling 9,779 shares and leaving 28,675 shares valued at about $6.40 million at quarter-end.
• Veeva beat Q4 estimates with $2.06 EPS (vs. $1.94 expected) and $835.95M revenue (vs. $810.95M), provided FY2027 guidance around $8.85 EPS and Q1 guidance of $2.13–$2.14, and authorized a $2.00 billion buyback (up to ~5.5% of shares).
• Analysts hold a Moderate Buy consensus with a $283.70 target, while the stock trades near $172.61 (52-week range $168.13–$310.50) and institutional investors own about 88.2% of the company.

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,675 shares of the technology company's stock after selling 9,779 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Veeva Systems were worth $6,401,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Veeva Systems by 3.1% during 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. lifted its stake in Veeva Systems by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company's stock worth $1,770,071,000 after purchasing an additional 235,983 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Veeva Systems by 11.2% during 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 buying an additional 388,864 shares during the period. State Street Corp boosted its position in shares of Veeva Systems by 2.2% during the 3rd quarter. State Street Corp now owns 3,503,730 shares of the technology company's stock valued at $1,043,796,000 after acquiring an additional 76,397 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Veeva Systems by 4.8% during 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. Institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VEEV. Morgan Stanley upped their price objective on Veeva Systems from $205.00 to $215.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Truist Financial restated a "buy" rating and issued a $262.00 price objective (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Piper Sandler decreased their target price on Veeva Systems from $355.00 to $285.00 and set an "overweight" rating for the company in a report on Thursday, March 5th. Barclays cut their price objective on shares of Veeva Systems from $305.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Finally, Weiss Ratings cut shares of Veeva Systems from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, January 12th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $283.70.

Veeva Systems Stock Down 3.2%

NYSE:VEEV opened at $172.61 on Friday. The business's 50-day simple moving average is $190.20 and its two-hundred day simple moving average is $237.16. Veeva Systems Inc. has a 52 week low of $168.13 and a 52 week high of $310.50. The stock has a market cap of $28.37 billion, a PE ratio of 31.91, a P/E/G ratio of 1.14 and a beta of 1.09.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, topping 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 net margin of 28.44% and a return on equity of 13.80%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company 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. Sell-side analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems declared that its Board of Directors has initiated a stock buyback plan on Monday, January 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows 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 leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,000 shares of the company's 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 approximately $5,370,101.72. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 10.30% of the company's stock.

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.

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