VEEV
VEEVA SYSTEMS INCEvidence as of 2026-10-03The desk's Snapshot
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Overview · VEEVA SYSTEMS INC
Veeva Systems Inc. provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of…
Management team
- Mr. Alan V. Mateo · Executive Vice President of Global SalesFind on LinkedIn
- Mr. Jacques Mourrain Ph.D. · Vice President of Quality & ComplianceFind on LinkedIn
- Mr. Jonathan W. Faddis · Senior VP, General Counsel & Corporate SecretaryFind on LinkedIn
- Mr. Thomas D. Schwenger · President & COOFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.1 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
Revenue rose to $ 927,963,000 in fiscal Q2 2027 (fiscal quarter ended 2026-08-25), up from $ 882,948,000 in fiscal Q1 2027 (fiscal quarter ended 2026-06-01) and $ 811,236,000 in fiscal Q3 2026 (fiscal quarter ended 2025-11-19). Gross profit and operating income climbed in the same sequence to $ 695,951,000 and $ 275,018,000 in fiscal Q2 2027, with calculated gross margin holding roughly stable near 75.0% across recent quarters.
The filings add explicit operational risks: heightened competition as customers migrate from legacy Veeva CRM to Vault CRM, expanded cyber and data-protection language (including AI-enabled attack concerns), and dependence on third-party infrastructure providers such as Amazon Web Services and Salesforce. The company disclosed a board-authorized $ 2.0 billion repurchase program and reported ongoing repurchases earlier in the year; weighted-average diluted shares and reported shares outstanding have declined. Market-action evidence is mixed: price sits above the 50- and 200-day SMAs with a golden cross on 2026-10-02 and strong 6-month momentum, while volatility is elevated and 12-month relative strength versus the S&P 500 is negative. Valuation snapshots at price 273.33 show trailing FCF per share of $ 17.2515 (price-to-FCF 15.84), trailing EPS $ 5.82 (trailing P/E 46.96), and EV/EBITDA of 42.23.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue was $927,963,000 in fiscal Q2 2027 (2026-05-01 to 2026-07-31, 3mo), up from $882,948,000 in fiscal Q1 2027 (2026-02-01 to 2026-04-30, 3mo) and up from $811,236,000 in fiscal Q3 2026 (2025-08-01 to 2025-10-31, 3mo).
XBRL companyfacts · 0001393052-26-000036Gross profit was $695,951,000 in fiscal Q2 2027 (2026-05-01 to 2026-07-31, 3mo) compared with $662,024,000 in fiscal Q1 2027 (2026-02-01 to 2026-04-30, 3mo) and $611,771,000 in fiscal Q3 2026 (2025-08-01 to 2025-10-31, 3mo).
XBRL companyfacts · 0001393052-26-000036Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The company added a risk highlighting intense competition, specifically noting heightened competition in the CRM market as it transitions customers from its legacy Veeva CRM application to its Vault CRM application.
Item 1A risk-factor diff · 0001393052-26-000014 vs 0001393052-25-000022The company added or materially reworded risks describing cyber security and data-protection threats, including that unauthorized access, ransomware or other malware, employee error, product defects, or third-party actions "have resulted in and could in the future result in the loss of information or intellectual property, inappropriate access or use, disclosure, unavailability, modification, destruction, or other processing of information, service interruption, degradation, disruption, and outages," and that rapidly evolving techniques (including AI-enabled attack methods) increase difficulty of prevention.
Item 1A risk-factor diff · 0001393052-26-000014 vs 0001393052-25-000022Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Momentum over the past 6 months is +57.1% and ranks in the 93th percentile of the 566-stock research universe as of 2026-10-02.
Moneyta signal set · 2026-10-02weakened in debateShorter-term momentum is also positive: 3-month momentum is +42.4%, and 12-1 momentum is +4.0% with a 12-1 momentum rank at the 42th percentile of 566.
Moneyta signal set · 2026-10-02weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional investors reported total holdings of "$24.33B" as of 2026-06-30 (13F reporting period).
13F holdings · 1075 filers · as of 2026-06-30BlackRock, Inc. was reported as a top holder with "$2.28B" in the 2026-06-30 13F period.
13F holdings · 1075 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Multiple headlines on 1–2 October 2026 describe Veeva’s stock moving lower while the broader market improved, framing coverage as company-specific stock-performance stories set against market gains.
News · zacks.com · 2026-10-02Finance outlets also published similar company-focused stock-movement headlines on 1–2 October 2026 noting closing-price changes for Veeva in those sessions.
News · finance.yahoo.com · 2026-10-02Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Thomas D. Schwenger (President & Chief Customer Officer) has multiple reported sales under 10b5-1 plans: on 2026-08-13 he sold 33,181 shares for "$8.3M", sold 1,819 shares for "$457k", and reported a 35,000-share 'code M' entry in the same filing; the filing explicitly states a 10b5-1 plan.
Form 4 · Schwenger Thomas D. (Pres. & Chief Customer Officer) · $242k sold · 2026-08-13Thomas D. Schwenger (President & Chief Customer Officer) has additional reported transactions on 2026-08-27 in which the filing records a 10,000-share 'code M' entry for "$1.5M" and a sale of 10,000 shares for "$2.8M", with the filing stating a 10b5-1 plan.
Form 4 · Schwenger Thomas D. (Pres. & Chief Customer Officer) · $1.5M code M · 2026-08-27Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
At the market price 273.33 (price date 2026-10-02), the model-derived implied free cash flow (FCF) growth rate that today's price would justify is 3.46%.
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve-month free cash flow (FCF) is $2,847,488,000 and FCF per share is $17.2515, producing a price-to-FCF ratio of 15.84 at the stated price.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
The provided evidence shows sequential and year-over-year revenue and gross-profit growth with gross margin roughly stable near 75%, rising operating income, and increasing net income and diluted EPS across the reported quarters (fundamentals-0 through fundamentals-4). Share count has declined alongside an active repurchase program and a board-authorized $2.0B buyback, which increases per-share economics (fundamentals-5, filings-4). Market signals show strong momentum (6- and 3-month) with price above key moving averages and a golden cross, while institutional ownership is large and broad—supporting demand and coverage (market-0 through market-2, market-4, market-5, ownership-0 through ownership-3). Valuation evidence is mixed but includes a relatively low price-to-FCF (valuation-1) and a modest implied FCF growth rate that the current price would justify (valuation-0), which together with operational strength forms a favorable read. In rebuttal to bear points, many insider transactions are documented as 10b5-1 plans or non-cash/code entries (insider-0 through insider-5), and the company itself disclosed the cost drivers and third-party reliance transparently (filings-3, filings-2), which frames risks rather than overturning the improving fundamental and per-share metrics.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.30
38 surviving claims rest on 19 distinct sources; the heaviest analyst carries 16% of them, and 97% of what the desk raised survived the debate.
The surviving set is moderately distributed across sources but not highly diversified: 38 claims draw on 19 distinct sources, so single-source errors would affect multiple claims. One analyst accounts for a meaningful share (16%) of the claims, and a 97% survival rate from the desk debate suggests the claims faced little internal pushback — useful for confidence but also a potential sign of limited challenge or group consensus.
Peer context · computed, not argued
12-1 momentum ranks 1st of 2 in Health Information Services (as of 2026-10-02).
6-month relative strength ranks 1st of 2 in Health Information Services (as of 2026-10-02).
90-day volatility ranks 1st of 2 in Health Information Services (as of 2026-10-02).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+1.5 to the score
13 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.6 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.7 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.8 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
12 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−1.2 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on VEEV Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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