VEEVA SYSTEMS INC
VEEV · Services-Prepackaged Software · 162.4M shares · +1%/yr ↑ shares · EDGAR filings ↗
Reference price $155.64 · est. market cap ~$25.3B — last insider sale, 2026-04-30 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A88Life-sciences vertical-SaaS leader with elite margins, free cash flow, and a debt-free balance sheet.
Strengths
- Elite margins and FCF — operating margin 28.7% (92nd), net margin 28.4% (92nd), OCF margin 44.3% (95th)
- Strong growth and returns — revenue +16.3%, net income +27.3%, ROA 10.1% (83rd)
- Debt-free, very liquid — current ratio 4.89 (91st)
Risks
- Pharma-vertical concentration — per 10-K
- Salesforce-platform-migration transition — per 10-K
- Premium valuation — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~76% of revenue from one customer/distributor — Cost of Revenue and Gross Margin Fiscal year ended January 31, 2026 2025 % Change (dollars in thousands) Cost of revenues: Cost of subscription $ 362,888 $ 323,070 12% Cost of profession
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, TIGER GLOBAL MANAGEMENT LLC, Bridgewater Associates, LP
- Strong balance sheetStrong balance sheet — $6.6B cash & investments
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +1 more (as of 2026-03-31)
- Insider sellingInsider selling — 4 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$663,285, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
75.5%
Operating margin
28.7%
Net margin
28.4%
Return on equity
12.6%
Return on assets
10.1%
Revenue growth (QoQ)
5.6%
Net-income growth
27.3%
Current ratio
4.9×
Tangible book value
$6.7B
Cash & investments
$6.6B
Stock comp / revenue
14.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-01 | Hedley Mary Lynne | Option exercise | 262 | — |
| 2026-06-01 | Cabral Timothy S | Option exercise | 262 | — |
| 2026-06-01 | Carges Mark T | Option exercise | 271 | — |
| 2026-06-01 | MOHR MARSHALL | Option exercise | 289 | — |
| 2026-06-01 | Hung Priscilla | Option exercise | 262 | — |
| 2026-06-01 | Ritter Gordon | Option exercise | 298 | — |
| 2026-06-01 | SEKHRI PAUL J | Option exercise | 253 | — |
| 2026-06-01 | Wallach Matthew J | Option exercise | 253 | — |
| 2026-04-30 | Hung Priscilla | Sell | 750 | $155.64 |
| 2026-04-10 | Hung Priscilla | Sell | 750 | $153.50 |
| 2026-04-01 | Zuppas Eleni Nitsa | Tax withheld | 3.5K | $172.74 |
| 2026-04-01 | Zuppas Eleni Nitsa | Option exercise | 1.5K | — |
| 2026-04-01 | Zuppas Eleni Nitsa | Tax withheld | 538 | $172.74 |
| 2026-04-01 | Faddis Jonathan | Option exercise | 7.5K | — |
| 2026-04-01 | Faddis Jonathan | Tax withheld | 3.4K | $172.74 |
| 2026-04-01 | Faddis Jonathan | Option exercise | 1.2K | — |
| 2026-04-01 | Faddis Jonathan | Tax withheld | 440 | $172.74 |
| 2026-04-01 | Van Wagener Brian | Option exercise | 872 | — |
| 2026-04-01 | Van Wagener Brian | Tax withheld | 370 | $172.74 |
| 2026-04-01 | Schwenger Thomas D. | Option exercise | 2.0K | — |
| 2026-04-01 | Schwenger Thomas D. | Tax withheld | 588 | $172.74 |
| 2026-04-01 | Kondath Vipin | Option exercise | 2.5K | — |
| 2026-04-01 | Kondath Vipin | Tax withheld | 914 | $172.74 |
| 2026-04-01 | Kondath Vipin | Option exercise | 103 | — |
| 2026-04-01 | Kondath Vipin | Tax withheld | 43 | $172.74 |
| 2026-04-01 | Zuppas Eleni Nitsa | Option exercise | 7.5K | — |
| 2026-03-05 | Schwenger Thomas D. | Sell | 1.0K | $200.00 |
| 2026-03-01 | Wallach Matthew J | Option exercise | 253 | — |
| 2026-03-01 | Hung Priscilla | Option exercise | 262 | — |
| 2026-03-01 | Hedley Mary Lynne | Option exercise | 262 | — |
| 2026-03-01 | MOHR MARSHALL | Option exercise | 288 | — |
| 2026-03-01 | Cabral Timothy S | Option exercise | 262 | — |
| 2026-03-01 | SEKHRI PAUL J | Option exercise | 253 | — |
| 2026-03-01 | Carges Mark T | Option exercise | 271 | — |
| 2026-03-01 | Ritter Gordon | Option exercise | 297 | — |
| 2026-01-13 | Schwenger Thomas D. | Sell | 1.0K | $231.43 |
| 2026-01-01 | Faddis Jonathan | Option exercise | 1.2K | — |
| 2026-01-01 | Faddis Jonathan | Tax withheld | 483 | $223.23 |
| 2026-01-01 | Van Wagener Brian | Option exercise | 871 | — |
| 2026-01-01 | Van Wagener Brian | Tax withheld | 321 | $223.23 |
| 2026-01-01 | Zuppas Eleni Nitsa | Option exercise | 1.5K | — |
| 2026-01-01 | Zuppas Eleni Nitsa | Tax withheld | 581 | $223.23 |
| 2026-01-01 | Schwenger Thomas D. | Option exercise | 2.0K | — |
| 2026-01-01 | Schwenger Thomas D. | Tax withheld | 631 | $223.23 |
| 2026-01-01 | Kondath Vipin | Tax withheld | 43 | $223.23 |
| 2026-01-01 | Kondath Vipin | Option exercise | 103 | — |
| 2025-12-10 | Ritter Gordon | Other | 1.4K | — |
| 2025-12-10 | Ritter Gordon | Other | 294 | — |
| 2025-12-02 | SEKHRI PAUL J | Gift | 2.5K | — |
| 2025-12-01 | SEKHRI PAUL J | Option exercise | 254 | — |
| 2025-12-01 | Cabral Timothy S | Option exercise | 263 | — |
| 2025-12-01 | Carges Mark T | Option exercise | 271 | — |
| 2025-12-01 | Ritter Gordon | Option exercise | 298 | — |
| 2025-12-01 | Wallach Matthew J | Option exercise | 254 | — |
| 2025-12-01 | Hedley Mary Lynne | Option exercise | 263 | — |
| 2025-12-01 | Hung Priscilla | Option exercise | 263 | — |
| 2025-12-01 | MOHR MARSHALL | Option exercise | 289 | — |
| 2025-10-08 | Schwenger Thomas D. | Gift | 980 | — |
| 2025-10-07 | Zuppas Eleni Nitsa | Option exercise | 6.0K | $135.49 |
| 2025-10-07 | Zuppas Eleni Nitsa | Sell | 6.0K | $306.62 |
| 2025-10-06 | Faddis Jonathan | Sell | 720 | $298.12 |
| 2025-10-06 | Faddis Jonathan | Gift | 5.0K | — |
| 2025-10-02 | Faddis Jonathan | Sell | 9.4K | $300.00 |
| 2025-10-02 | Schwenger Thomas D. | Sell | 3.4K | $300.04 |
| 2025-10-02 | Faddis Jonathan | Option exercise | 9.4K | $207.48 |
| 2025-10-02 | Faddis Jonathan | Option exercise | 5.2K | $180.02 |
| 2025-10-02 | Faddis Jonathan | Sell | 5.2K | $300.00 |
| 2025-10-01 | Zuppas Eleni Nitsa | Tax withheld | 761 | $293.26 |
| 2025-10-01 | Schwenger Thomas D. | Option exercise | 2.0K | — |
| 2025-10-01 | Schwenger Thomas D. | Tax withheld | 894 | $293.26 |
| 2025-10-01 | Zuppas Eleni Nitsa | Option exercise | 1.5K | — |
| 2025-10-01 | Faddis Jonathan | Option exercise | 1.2K | — |
| 2025-10-01 | Faddis Jonathan | Tax withheld | 540 | $293.26 |
| 2025-10-01 | Van Wagener Brian | Tax withheld | 274 | $293.26 |
| 2025-10-01 | DIAMOND KRISTINE | Option exercise | 218 | — |
| 2025-10-01 | Van Wagener Brian | Option exercise | 872 | — |
| 2025-10-01 | DIAMOND KRISTINE | Tax withheld | 79 | $293.26 |
| 2025-09-01 | Cabral Timothy S | Option exercise | 262 | — |
| 2025-09-01 | Ritter Gordon | Option exercise | 298 | — |
| 2025-09-01 | Wallach Matthew J | Option exercise | 253 | — |
| 2025-09-01 | Hung Priscilla | Option exercise | 262 | — |
| 2025-09-01 | Hedley Mary Lynne | Option exercise | 262 | — |
| 2025-09-01 | Carges Mark T | Option exercise | 271 | — |
| 2025-09-01 | SEKHRI PAUL J | Option exercise | 253 | — |
| 2025-09-01 | MOHR MARSHALL | Option exercise | 289 | — |
| 2025-07-10 | Faddis Jonathan | Sell | 720 | $285.62 |
| 2025-07-07 | Hung Priscilla | Sell | 171 | $284.40 |
| 2025-07-03 | Hung Priscilla | Sell | 172 | $283.00 |
| 2025-07-01 | Schwenger Thomas D. | Option exercise | 2.0K | — |
| 2025-07-01 | Schwenger Thomas D. | Tax withheld | 808 | $282.90 |
| 2025-07-01 | Zuppas Eleni Nitsa | Option exercise | 1.5K | — |
| 2025-07-01 | Zuppas Eleni Nitsa | Tax withheld | 539 | $282.90 |
| 2025-07-01 | Van Wagener Brian | Option exercise | 872 | — |
| 2025-07-01 | Van Wagener Brian | Tax withheld | 274 | $282.90 |
| 2025-07-01 | DIAMOND KRISTINE | Option exercise | 218 | — |
| 2025-07-01 | DIAMOND KRISTINE | Tax withheld | 79 | $282.90 |
| 2025-07-01 | Faddis Jonathan | Option exercise | 1.2K | — |
| 2025-07-01 | Faddis Jonathan | Tax withheld | 439 | $282.90 |
| 2025-06-06 | Cabral Timothy S | Sell | 315 | $289.72 |
| 2025-06-01 | Cabral Timothy S | Option exercise | 315 | — |
| 2025-06-01 | Carges Mark T | Option exercise | 357 | — |
| 2025-06-01 | Hedley Mary Lynne | Option exercise | 343 | — |
| 2025-06-01 | Hung Priscilla | Option exercise | 343 | — |
| 2025-06-01 | Hunt Nimrata | Option exercise | 343 | — |
| 2025-06-01 | MOHR MARSHALL | Option exercise | 385 | — |
| 2025-06-01 | Ritter Gordon | Option exercise | 399 | — |
| 2025-06-01 | SEKHRI PAUL J | Option exercise | 329 | — |
| 2025-06-01 | Wallach Matthew J | Option exercise | 329 | — |
| 2025-05-29 | Schwenger Thomas D. | Sell | 1.1K | $268.11 |
| 2025-05-02 | Faddis Jonathan | Sell | 833 | $236.71 |
| 2025-04-14 | Schwenger Thomas D. | Sell | 802 | $220.76 |
| 2025-04-14 | Schwenger Thomas D. | Sell | 398 | $221.40 |
| 2025-04-10 | Schwenger Thomas D. | Sell | 870 | $214.46 |
| 2025-04-10 | Schwenger Thomas D. | Sell | 380 | $210.94 |
| 2025-04-10 | Schwenger Thomas D. | Sell | 740 | $212.23 |
| 2025-04-10 | Schwenger Thomas D. | Sell | 610 | $213.00 |
| 2025-04-04 | Cabral Timothy S | Sell | 3.9K | $216.83 |
| 2025-04-02 | Faddis Jonathan | Sell | 787 | $226.20 |
| 2025-04-01 | DIAMOND KRISTINE | Option exercise | 204 | — |
| 2025-04-01 | DIAMOND KRISTINE | Tax withheld | 78 | $227.90 |
| 2025-04-01 | Zuppas Eleni Nitsa | Option exercise | 1.3K | — |
| 2025-04-01 | Zuppas Eleni Nitsa | Tax withheld | 474 | $227.90 |
| 2025-04-01 | Van Wagener Brian | Option exercise | 823 | — |
| 2025-04-01 | Van Wagener Brian | Tax withheld | 258 | $227.90 |
| 2025-04-01 | Schwenger Thomas D. | Option exercise | 1.9K | — |
| 2025-04-01 | Schwenger Thomas D. | Tax withheld | 549 | $227.90 |
| 2025-04-01 | Faddis Jonathan | Option exercise | 1.1K | — |
| 2025-04-01 | Faddis Jonathan | Tax withheld | 401 | $227.90 |
| 2025-03-10 | Ritter Gordon | Other | 31K | — |
| 2025-03-10 | Ritter Gordon | Other | 500K | — |
| 2025-03-01 | Carges Mark T | Option exercise | 356 | — |
| 2025-03-01 | Cabral Timothy S | Option exercise | 314 | — |
| 2025-03-01 | Hedley Mary Lynne | Option exercise | 342 | — |
| 2025-03-01 | Hung Priscilla | Option exercise | 342 | — |
| 2025-03-01 | Hunt Nimrata | Option exercise | 342 | — |
| 2025-03-01 | MOHR MARSHALL | Option exercise | 384 | — |
| 2025-03-01 | Ritter Gordon | Option exercise | 398 | — |
| 2025-03-01 | SEKHRI PAUL J | Option exercise | 328 | — |
| 2025-03-01 | Wallach Matthew J | Option exercise | 328 | — |
| 2025-01-01 | Van Wagener Brian | Option exercise | 1.4K | — |
| 2025-01-01 | Van Wagener Brian | Tax withheld | 477 | $210.25 |
| 2025-01-01 | Schwenger Thomas D. | Option exercise | 1.9K | — |
| 2025-01-01 | Schwenger Thomas D. | Tax withheld | 593 | $210.25 |
| 2025-01-01 | DIAMOND KRISTINE | Option exercise | 203 | — |
| 2025-01-01 | DIAMOND KRISTINE | Tax withheld | 84 | $210.25 |
| 2025-01-01 | Faddis Jonathan | Tax withheld | 445 | $210.25 |
| 2025-01-01 | Faddis Jonathan | Option exercise | 1.1K | — |
| 2025-01-01 | Zuppas Eleni Nitsa | Tax withheld | 517 | $210.25 |
| 2025-01-01 | Zuppas Eleni Nitsa | Option exercise | 1.3K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-18 | Shareholder voteExhibits | filing ↗ |
| 2026-06-03 | ResultsExhibits | filing ↗ |
| 2026-04-20 | Exec/director changeExhibits | filing ↗ |
| 2026-03-04 | ResultsExhibits | filing ↗ |
| 2026-01-05 | OtherExhibits | filing ↗ |
| 2025-12-11 | Exec/director changeExhibits | filing ↗ |
| 2025-11-20 | ResultsExhibits | filing ↗ |
| 2025-11-18 | Exec/director changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-18 | 2026-06-17 | 0001393052-26-000029 ↗ |
| 10-Q | 2026-06-05 | 2026-04-30 | 0001393052-26-000026 ↗ |
| 8-K | 2026-06-03 | 2026-06-03 | 0001393052-26-000022 ↗ |
| 8-K | 2026-04-20 | 2026-04-20 | 0001393052-26-000018 ↗ |
| 10-K | 2026-03-20 | 2026-01-31 | 0001393052-26-000014 ↗ |
| 8-K | 2026-03-04 | 2026-03-04 | 0001393052-26-000007 ↗ |
| 8-K | 2026-01-05 | 2026-01-05 | 0001393052-26-000003 ↗ |
| 8-K | 2025-12-11 | 2025-12-10 | 0001393052-25-000082 ↗ |
| 10-Q | 2025-11-21 | 2025-10-31 | 0001393052-25-000078 ↗ |
| 8-K | 2025-11-20 | 2025-11-20 | 0001393052-25-000074 ↗ |
| 8-K | 2025-11-18 | 2025-11-17 | 0001393052-25-000070 ↗ |
| 10-Q | 2025-08-29 | 2025-07-31 | 0001393052-25-000067 ↗ |