VEEV Veeva Systems Inc. Class A Common Stock
$244.54
Price · Aug 19, 2026
Fundamentals as of Jun 5, 2026
52W Range
$148–$310
59% of range
Analyst Rating
BUY
36 analysts
Price Target
$244
P/E (TTM)
45.0
ROE
13.1%
Net Profit Margin
28.4%
About Veeva Systems Inc. Class A Common Stock Company overview from Wikipedia
Veeva Systems Inc., headquartered in Pleasanton, California, provides cloud computing software, data, and consulting services for the life sciences industry. Its products are used to track all aspects of drug development and pharmaceutical manufacturing.
Read more
Veeva Systems Inc., headquartered in Pleasanton, California, provides cloud computing software, data, and consulting services for the life sciences industry. Its products are used to track all aspects of drug development and pharmaceutical manufacturing.
The company has 1,552 customers including Bayer, Boehringer Ingelheim, Eli Lilly and Company, Gilead Sciences, Merck & Co., Novartis, Alkermes plc, Alnylam Pharmaceuticals, bluebird bio, and Idorsia.
## History
Veeva was founded in 2007 by Peter Gassner and Matt Wallach.
In 2011, the company introduced Veeva Vault, a content management system for the life sciences industry.
In October 2013, Veeva became a public company via an initial public offering on the New York Stock Exchange.
In February 2021, Veeva became the first publicly traded company to convert to a public benefit corporation.
In 2025, Veeva ended its partnership with Salesforce, a competitor.
=== Acquisitions ===
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
VEEV Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$244.53
Market Cap
$40.05B
P/E (TTM)
45.0
EPS (TTM)
$5.44
Revenue (TTM)
$3.20B
Div Yield
—
ROE
13.1%
Debt/Equity
—
52W Range
$148 – $311
VEEV Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$3.20B
2017-01-31
→
2026-01-31
EPS
$5.44
2017-01-31
→
2026-01-31
Free Cash Flow
—
2017-01-31
→
2020-01-31
Margins
28.4%
2017-01-31
→
2026-01-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
VEEV
Peer Median
P/E (TTM)
45.0
39.8
P/S (TTM)
12.5
3.5
P/B
5.6
2.1
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VEEV
Peer Median
Gross Margin
75.5%
69.0%
Operating Margin
28.7%
—
Net Profit Margin
28.4%
1.5%
ROA
11.1%
0.92%
ROE
13.1%
3.3%
ROIC
9.7%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VEEV
Peer Median
Current Ratio
4.9
2.2
Quick Ratio
1.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VEEV
Peer Median
Revenue YoY
16.3%
—
Revenue CAGR 3Y
14.0%
—
Revenue CAGR 5Y
16.9%
—
EPS YoY
25.9%
—
Net Income YoY
27.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VEEV
Peer Median
VEEV Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
36 analysts
- Strong Buy 9 25.0%
- Buy 17 47.2%
- Hold 9 25.0%
- Sell 1 2.8%
- Strong Sell 0 0.0%
12-Month Price Target
28 analysts · 2026-08-15
Median
$235.00
Now
$244.53
Low
$165.00
High
$350.00
Median target
$235.00
-3.9%
Mean target
$244.14
-0.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.09%
Next Report
Aug 26, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2027 | $2.24 | $2.17 | — |
| June 30, 2026 | $2.24 | $2.17 | 0.07% |
| March 31, 2026 | $2.06 | $1.97 | 0.09% |
| Dec. 31, 2025 | $2.04 | $1.99 | 0.05% |
| Sept. 30, 2025 | $1.99 | $1.94 | 0.05% |
| June 30, 2025 | $1.97 | $1.77 | 0.20% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VEEV | $33.40B | 37.5 | 16.3% | 28.4% | 13.1% | 75.5% |
| DOCS | $4.27B | 23.8 | 13.1% | 30.4% | 19.2% | 89.1% |
| WAY | $6.27B | 53.7 | 16.5% | 10.2% | 3.2% | — |
| HTFL | $2.49B | -9.2 | 39.9% | -66.3% | 39.3% | 76.8% |
| SDGR | — | -12.7 | 23.3% | -40.4% | -29.2% | 55.7% |
| GDRX | — | 30.1 | 0.57% | 3.8% | 4.8% | — |
| CERT | $1.40B | -881.0 | 8.8% | -0.38% | -0.15% | — |
| TDOC | $1.25B | -6.1 | -1.5% | -7.9% | -14.3% | — |
| HSTM | $682M | 37.8 | 4.3% | 6.0% | 5.2% | — |
| PHR | — | 335.8 | 14.5% | 0.48% | 0.73% | — |
| CTEV | $708M | -2.5 | 3.7% | -29.4% | 265.9% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.20B | $2.75B | $2.36B | $2.16B | $1.85B | $1.47B | $1.10B | $862M | $691M | $551M | $409M | $313M | |
| Cost of Revenue | $782M | $700M | $677M | $609M | $504M | $409M | $303M | $245M | $211M | $174M | $142M | $116M | |
| Gross Profit | $2.41B | $2.05B | $1.69B | $1.55B | $1.35B | $1.06B | $801M | $617M | $479M | $377M | $267M | $198M | |
| R&D Expense | $767M | $693M | $629M | $520M | $382M | $294M | $210M | $159M | $132M | $97M | $66M | $41M | |
| SG&A Expense | $301M | $266M | $247M | $218M | $172M | $149M | $114M | $86M | $60M | $49M | $41M | $30M | |
| Operating Expenses | $1.50B | $1.36B | $1.26B | $1.09B | $842M | $678M | $514M | $394M | $321M | $256M | $188M | $128M | |
| Operating Income | $916M | $691M | $429M | $459M | $505M | $378M | $286M | $223M | $158M | $121M | $79M | $70M | |
| Other Non-op | $278M | $228M | $159M | $50M | $7M | $16M | $27M | $16M | $8M | $2M | $28.0K | $-3M | |
| Pretax Income | $1.19B | $919M | $588M | $509M | $512M | $394M | $314M | $239M | $166M | $122M | $79M | $67M | |
| Income Tax | $286M | $205M | $62M | $21M | $85M | $14M | $13M | $9M | $15M | $45M | $24M | $27M | |
| Net Income | $909M | $714M | $526M | $488M | $427M | $380M | $301M | $230M | $151M | $78M | $54M | $40M | |
| EPS (Basic) | $5.55 | $4.41 | $3.27 | $3.14 | $2.79 | $2.52 | $2.04 | $1.59 | $1.08 | $0.57 | $0.41 | $0.31 | |
| EPS (Diluted) | $5.44 | $4.32 | $3.22 | $3.00 | $2.63 | $2.36 | $1.90 | $1.47 | $0.98 | $0.53 | $0.38 | $0.28 | |
| Shares (Basic) | 163,667,000 | 161,879,000 | 160,532,000 | 155,385,000 | 153,251,000 | 150,666,000 | 147,796,000 | 144,244,000 | 140,311,000 | 135,698,000 | 132,020,000 | 127,713,000 | |
| Shares (Diluted) | 166,995,000 | 165,232,000 | 163,486,000 | 162,437,000 | 162,277,000 | 160,732,000 | 158,296,000 | 156,117,000 | 153,681,000 | 147,578,000 | 144,977,000 | 144,204,000 | |
| EBITDA | $916M | $691M | $429M | $459M | $505M | $378M | $286M | $223M | $151M | $108M | $79M | $70M |
Balance Sheet 26
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.42B | $1.12B | $703M | $886M | $1.14B | $731M | $477M | $551M | $320M | $218M | $132M | $129M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $442M | $301M | $214M | $269M | |
| Receivables | $1.26B | $1.02B | $852M | $703M | $631M | $564M | $390M | $303M | $225M | $183M | $145M | $93M | |
| Prepaid Expense | $126M | $101M | $87M | $81M | $37M | $36M | $22M | $22M | $12M | $10M | $10M | $6M | |
| Other Current Assets | · | · | · | · | · | · | · | · | · | · | · | $6M | |
| Current Assets | $8.00B | $6.31B | $5.00B | $3.97B | $3.11B | $2.31B | $1.53B | $1.43B | $1.01B | $712M | $501M | $502M | |
| PP&E (Net) | $70M | $56M | $59M | $50M | $54M | $54M | $55M | $55M | $52M | $50M | $47M | $28M | |
| PP&E (Gross) | $104M | $87M | $95M | $82M | $85M | $83M | $80M | $71M | $65M | $59M | $52M | $31M | |
| Accum. Depreciation | $34M | $31M | $37M | $32M | $30M | $30M | $25M | $16M | $13M | $9M | $4M | $2M | |
| Goodwill | $440M | $440M | $440M | $440M | $440M | $436M | $439M | $96M | $96M | $96M | $96M | $5M | |
| Intangibles | $30M | $44M | $63M | $82M | $102M | $115M | $135M | $25M | $31M | $39M | $48M | $5M | |
| Other Non-current Assets | $62M | $57M | $43M | $39M | $25M | $18M | $16M | $8M | $6M | $4M | $5M | $4M | |
| Total Assets | $8.98B | $7.34B | $5.91B | $4.80B | $3.82B | $3.05B | $2.27B | $1.65B | $1.23B | $917M | $706M | $545M | |
| Accounts Payable | $38M | $30M | $32M | $42M | $20M | $23M | $19M | $9M | $7M | $6M | $5M | $4M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | · | $9M | |
| Current Liabilities | $1.64B | $1.40B | $1.18B | $1.01B | $841M | $716M | $551M | $401M | $306M | $247M | $186M | $136M | |
| Capital Leases | $84M | $66M | $46M | $50M | $44M | $51M | $44M | · | · | · | · | · | |
| Deferred Tax | $558.0K | $587.0K | $2M | $1M | $2M | $2M | $2M | $6M | $11M | $13M | $11M | $170.0K | |
| Other Non-current Liabilities | $43M | $43M | $39M | $30M | $18M | $11M | $8M | $9M | $7M | $5M | $4M | $2M | |
| Total Liabilities | $1.76B | $1.51B | $1.27B | $1.09B | $905M | $780M | $606M | $416M | $324M | $265M | $201M | $138M | |
| Common Stock | $2.0K | $2.0K | $2.0K | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $4.36B | $3.45B | $2.74B | $2.21B | $1.73B | $1.30B | $920M | $619M | $389M | $213M | $143M | $89M | |
| AOCI | $8M | $-8M | $-11M | $-31M | $-12M | $992.0K | $460.0K | $928.0K | $2M | $111.0K | $172.0K | $26.0K | |
| Stockholders' Equity | $7.21B | $5.83B | $4.64B | $3.72B | $2.91B | $2.27B | $1.67B | $1.24B | $906M | $678M | $522M | $407M | |
| Liabilities + Equity | $8.98B | $7.34B | $5.91B | $4.80B | $3.82B | $3.05B | $2.27B | $1.65B | $1.23B | $917M | $706M | $545M | |
| Shares Outstanding | 163,778,271 | 162,583,789 | 161,260,172 | 158,244,607 | 154,196,597 | 152,056,808 | 149,095,583 | · | · | · | · | · |
Cash Flow 13
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | $20M | $14M | $14M | $14M | $8M | $4M | |
| Stock-based Comp | $473M | $437M | $394M | $352M | $235M | $185M | $116M | $76M | · | · | · | · | |
| Deferred Tax | $65M | $-112M | $-105M | $-128M | $11M | $-1M | $-7M | $-8M | $1M | $-1M | $-6M | $-4M | |
| Amort. of Intangibles | $14M | $19M | $19M | $19M | $19M | $20M | $10M | $7M | $8M | $8M | $4M | $2M | |
| Operating Cash Flow | $1.42B | $1.09B | $911M | $780M | $764M | $551M | $437M | $311M | $233M | $144M | $80M | $68M | |
| CapEx | · | · | · | · | · | · | $3M | $8M | $10M | $7M | $21M | $27M | |
| Investing Cash Flow | $-1.10B | $-700M | $-1.08B | $-1.01B | $-346M | $-334M | $-517M | $-104M | $-155M | $-97M | · | · | |
| Stock Repurchased | $170M | $0 | $0 | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-170M | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-9M | $26M | $-16M | $-19M | $-4M | $34M | $10M | $26M | $21M | $38M | · | · | |
| Net Change in Cash | $302M | $414M | $-183M | $-252M | $410M | $252M | $-72M | $231M | $103M | $85M | $3M | $-133M | |
| Taxes Paid | $230M | $322M | $134M | $168M | $59M | $18M | $14M | $20M | $12M | $14M | $20M | $2M | |
| Free Cash Flow | · | · | · | · | · | · | $434M | $302M | $224M | $137M | $59M | $41M |
Profitability 8
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.5% | 74.5% | 71.4% | 71.7% | 72.8% | 72.1% | 72.5% | 71.5% | 69.2% | 68.1% | 65.2% | 63.1% | |
| Operating Margin | 28.7% | 25.2% | 18.2% | 21.3% | 27.3% | 25.8% | 25.9% | 25.9% | 22.0% | 19.9% | 19.2% | 22.3% | |
| Net Margin | 28.4% | 26.0% | 22.2% | 22.6% | 23.1% | 25.9% | 27.3% | 26.7% | 20.7% | 12.7% | 13.3% | 12.9% | |
| Pretax Margin | 37.4% | 33.5% | 24.9% | 23.6% | 27.7% | 26.9% | 28.4% | 27.7% | 23.1% | 20.2% | 19.2% | 21.4% | |
| EBITDA Margin | 28.7% | 25.2% | 18.2% | 21.3% | 27.3% | 25.8% | 25.9% | 25.9% | 22.0% | 19.9% | 19.2% | 22.3% | |
| ROA | 11.1% | 10.8% | 9.8% | 11.3% | 12.5% | 14.3% | 15.3% | 15.9% | 13.4% | 8.5% | 8.7% | 8.8% | |
| ROE | 13.1% | 12.6% | 11.7% | 13.7% | 15.0% | 17.4% | 18.7% | 19.4% | 18.3% | 11.7% | 11.9% | 11.8% | |
| ROIC | 9.7% | 9.2% | 8.3% | 11.8% | 14.5% | 16.1% | 16.5% | 17.3% | 15.5% | 10.4% | 10.8% | 10.3% |
Liquidity & Solvency 2
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.9 | 4.5 | 4.2 | 3.9 | 3.7 | 3.2 | 2.8 | 3.6 | 3.2 | 2.9 | 2.7 | 3.7 | |
| Quick Ratio | 1.6 | 1.5 | 1.3 | 1.6 | 2.1 | 1.8 | 1.6 | 2.1 | 3.2 | 2.8 | 2.6 | 3.6 |
Efficiency 2
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.6 | 0.6 | 0.6 | 0.6 | 0.7 | 0.7 | 0.7 | |
| Receivables Turnover | 2.8 | 2.9 | 3.0 | 3.2 | 3.1 | 3.1 | 3.2 | 3.3 | 3.3 | 3.3 | 3.4 | 4.1 |
Growth Rates 9
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 16.3% | 16.2% | 9.7% | 16.4% | 26.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 14.0% | 14.1% | 17.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 16.9% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 25.9% | 34.2% | 7.3% | 14.1% | 11.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 21.9% | 18.0% | 10.9% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 18.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 27.3% | 35.8% | 7.8% | 14.1% | 12.5% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 23.1% | 18.7% | 11.4% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 19.1% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 9
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.20B | $2.75B | $2.36B | $2.16B | $1.85B | $1.47B | $1.10B | $862M | $691M | $551M | $409M | $313M | |
| Net Income TTM | $909M | $714M | $526M | $488M | $427M | $380M | $301M | $230M | $151M | $78M | $54M | $40M | |
| Market Cap | $33.40B | $37.92B | $33.45B | $26.99B | · | · | · | · | · | · | · | · | |
| P/E | 37.5 | 54.0 | 64.4 | 56.9 | 89.9 | 117.1 | 77.2 | 74.2 | 64.1 | 79.9 | 63.4 | 102.7 | |
| P/S | 10.5 | 13.8 | 14.2 | 12.5 | · | · | · | · | · | · | · | · | |
| P/B | 4.6 | 6.5 | 7.2 | 7.3 | · | · | · | · | · | · | · | · | |
| P / Tangible Book | 5.0 | 7.1 | 8.1 | 8.5 | · | · | · | · | · | · | · | · | |
| P / Cash Flow | 23.6 | 34.8 | 36.7 | 34.6 | · | · | · | · | · | · | · | · | |
| Earnings Yield | 2.7% | 1.8% | 1.6% | 1.8% | 1.1% | 0.85% | 1.3% | 1.4% | 1.6% | 1.2% | 1.6% | 0.97% |
Income Statement 16
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $883M | $836M | $811M | $789M | $759M | $721M | $699M | $676M | $650M | $631M | $617M | $590M | $526M | $563M | $552M | $534M | |
| Cost of Revenue | $221M | $213M | $199M | $195M | $174M | $181M | $174M | $170M | $174M | $174M | $168M | $169M | $167M | $164M | $154M | $152M | |
| Gross Profit | $662M | $622M | $612M | $594M | $585M | $540M | $525M | $506M | $476M | $457M | $449M | $421M | $360M | $399M | $398M | $383M | |
| R&D Expense | $208M | $199M | $192M | $193M | $184M | $182M | $172M | $176M | $163M | $164M | $161M | $157M | $147M | $143M | $130M | $134M | |
| SG&A Expense | $69M | $68M | $68M | $96M | $69M | $71M | $72M | $61M | $61M | $59M | $62M | $63M | $63M | $59M | $53M | $58M | |
| Operating Expenses | $389M | $377M | $371M | $398M | $351M | $351M | $343M | $339M | $321M | $321M | $320M | $317M | $298M | $290M | $277M | $281M | |
| Operating Income | $273M | $246M | $241M | $196M | $234M | $188M | $181M | $166M | $155M | $135M | $128M | $104M | $62M | $109M | $121M | $101M | |
| Other Non-op | $74M | $72M | $72M | $69M | $65M | $57M | $61M | $59M | $52M | $47M | $42M | $39M | $30M | $26M | $12M | $8M | |
| Pretax Income | $348M | $318M | $313M | $265M | $299M | $245M | $242M | $225M | $207M | $183M | $171M | $143M | $92M | $135M | $134M | $109M | |
| Income Tax | $87M | $73M | $77M | $65M | $71M | $50M | $56M | $54M | $45M | $35M | $36M | $31M | $-40M | $-53M | $25M | $19M | |
| Net Income | $261M | $244M | $236M | $200M | $228M | $196M | $186M | $171M | $162M | $147M | $135M | $112M | $132M | $189M | $108M | $91M | |
| EPS (Basic) | $1.60 | $1.48 | $1.44 | $1.23 | $1.40 | $1.20 | $1.15 | $1.06 | $1.00 | $0.91 | $0.84 | $0.70 | $0.82 | $1.21 | $0.70 | $0.58 | |
| EPS (Diluted) | $1.57 | $1.48 | $1.40 | $1.19 | $1.37 | $1.17 | $1.13 | $1.04 | $0.98 | $0.90 | $0.83 | $0.68 | $0.81 | $1.15 | $0.67 | $0.56 | |
| Shares (Basic) | 163,345,000 | -326,627,000 | 164,049,000 | 163,496,000 | 162,749,000 | -323,237,000 | 161,987,000 | 161,708,000 | 161,421,000 | -320,484,000 | 160,768,000 | 160,396,000 | 159,852,000 | -309,472,000 | 155,392,000 | 154,951,000 | |
| Shares (Diluted) | 165,989,000 | -335,854,000 | 168,935,000 | 167,685,000 | 166,229,000 | -328,705,000 | 164,979,000 | 164,564,000 | 164,394,000 | -326,080,000 | 163,761,000 | 163,284,000 | 162,521,000 | -323,918,000 | 162,295,000 | 162,132,000 | |
| EBITDA | $273M | · | $241M | $196M | $234M | · | $181M | $166M | $155M | · | $128M | $104M | $62M | · | $121M | $101M |
Balance Sheet 23
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.90B | $1.42B | $1.66B | $1.93B | $1.96B | $1.12B | $1.04B | $1.17B | $1.20B | $703M | $744M | $743M | $1.09B | $886M | $865M | $1.14B | |
| Receivables | $568M | $1.26B | $314M | $422M | $493M | $1.02B | $256M | $365M | $362M | · | $256M | $379M | $413M | · | $243M | $313M | |
| Prepaid Expense | $123M | $126M | $103M | $118M | $98M | $101M | $83M | $79M | $79M | · | $93M | $76M | $122M | · | $39M | $46M | |
| Current Assets | $8.06B | $8.00B | $7.11B | $6.99B | $6.71B | $6.31B | $5.45B | $5.37B | $5.24B | · | $4.34B | $4.36B | $4.19B | · | $3.39B | $3.36B | |
| PP&E (Net) | $73M | $70M | $66M | $61M | $59M | $56M | $56M | $57M | $58M | · | $58M | $57M | $50M | · | $51M | $52M | |
| PP&E (Gross) | · | $104M | · | · | · | $87M | $97M | $96M | $96M | · | $93M | $91M | $83M | · | $83M | $84M | |
| Accum. Depreciation | · | $34M | · | · | · | $31M | $41M | $39M | $38M | · | $35M | $34M | $33M | · | $31M | $32M | |
| Goodwill | $488M | $440M | $440M | $440M | $440M | $440M | $440M | $440M | $440M | · | $440M | $440M | $440M | · | $440M | $440M | |
| Intangibles | $56M | $30M | $33M | $36M | $41M | $44M | $49M | $53M | $58M | · | $68M | $73M | $78M | · | $87M | $92M | |
| Other Non-current Assets | $66M | $62M | $61M | $60M | $62M | $57M | $56M | $55M | $52M | · | $38M | $39M | $36M | · | $34M | $27M | |
| Total Assets | $9.13B | $8.98B | $8.10B | $8.00B | $7.77B | $7.34B | $6.45B | $6.33B | $6.19B | · | $5.23B | $5.23B | $5.02B | · | $4.18B | $4.12B | |
| Accounts Payable | $41M | $38M | $33M | $34M | $37M | $30M | $32M | $28M | $32M | · | $36M | $50M | $44M | · | $41M | $31M | |
| Current Liabilities | $1.70B | $1.64B | $945M | $1.26B | $1.46B | $1.40B | $857M | $1.07B | $1.22B | · | $768M | $1.00B | $1.01B | · | $690M | $799M | |
| Capital Leases | $90M | $84M | $79M | $75M | $67M | $66M | $63M | $44M | $45M | · | · | · | · | · | · | · | |
| Deferred Tax | $1M | $558.0K | $367.0K | $439.0K | $526.0K | $587.0K | $475.0K | $591.0K | $705.0K | · | $1M | $1M | $1M | · | $2M | $2M | |
| Other Non-current Liabilities | $32M | $43M | $32M | $31M | $30M | $43M | $31M | $31M | $29M | · | $29M | $24M | $25M | · | $22M | $20M | |
| Total Liabilities | $1.83B | $1.76B | $1.06B | $1.36B | $1.55B | $1.51B | $951M | $1.15B | $1.30B | · | $846M | $1.08B | $1.08B | · | $764M | $873M | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | · | · | · | · | · | · | · | |
| Retained Earnings | $4.62B | $4.36B | $4.12B | $3.88B | $3.68B | $3.45B | $3.26B | $3.07B | $2.90B | · | $2.59B | $2.46B | $2.35B | · | $2.03B | $1.92B | |
| AOCI | $-20M | $8M | $10M | $-2M | $9M | $-8M | $-6M | $-6M | $-31M | · | $-38M | $-34M | $-26M | · | $-46M | $-27M | |
| Stockholders' Equity | $7.30B | $7.21B | $7.04B | $6.64B | $6.21B | $5.83B | $5.50B | $5.18B | $4.89B | $4.64B | $4.38B | $4.15B | $3.94B | $3.72B | $3.42B | $3.24B | |
| Liabilities + Equity | $9.13B | $8.98B | $8.10B | $8.00B | $7.77B | $7.34B | $6.45B | $6.33B | $6.19B | · | $5.23B | $5.23B | $5.02B | · | $4.18B | $4.12B | |
| Shares Outstanding | 162,942,747 | 163,778,271 | 164,342,871 | 163,877,694 | 162,975,081 | 162,583,789 | 162,158,468 | 161,830,287 | 161,624,611 | 161,260,172 | 160,965,687 | 160,622,618 | 160,200,232 | 158,244,607 | · | · |
Cash Flow 10
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $119M | $118M | $120M | $122M | $112M | $115M | $118M | $108M | $96M | $99M | $101M | $103M | $91M | $96M | $93M | $96M | |
| Deferred Tax | $14M | $15M | $18M | $59M | $-27M | $-21M | $-31M | $-33M | $-27M | $-25M | $-33M | $-25M | $-22M | $-43M | $-31M | $-21M | |
| Amort. of Intangibles | $3M | $2M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | $4M | $5M | $5M | $5M | $4M | $5M | $5M | |
| Operating Cash Flow | $1.13B | $107M | $193M | $238M | $877M | $70M | $164M | $93M | $764M | $58M | $83M | $265M | $506M | $63M | $143M | $93M | |
| Investing Cash Flow | $-389M | $-168M | $-495M | $-389M | $-52M | $-16M | $-298M | $-114M | $-272M | $-87M | $-73M | $-619M | $-297M | $-39M | $-406M | $-184M | |
| Stock Repurchased | $227M | · | · | · | $0 | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-227M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-263M | $-178M | $33M | $116M | $20M | $21M | $13M | $-11M | $4M | $-10M | $-7M | $3M | $-1M | $-2M | $-11M | $-8M | |
| Net Change in Cash | $475M | $-239M | $-270M | $-35M | $846M | $74M | $-121M | $-32M | $494M | $-40M | $1M | $-351M | $207M | $21M | $-275M | $-100M | |
| Taxes Paid | $7M | $65M | $38M | $113M | $14M | $83M | $76M | $159M | $4M | $34M | $94M | $6M | $1M | $57M | $3M | $90M |
Profitability 8
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.0% | · | 75.4% | 75.3% | 77.1% | · | 75.1% | 74.8% | 73.3% | · | 72.8% | 71.4% | 68.3% | · | 72.1% | 71.6% | |
| Operating Margin | 30.9% | · | 29.7% | 24.8% | 30.8% | · | 25.9% | 24.6% | 23.9% | · | 20.8% | 17.6% | 11.7% | · | 22.0% | 18.9% | |
| Net Margin | 29.5% | · | 29.1% | 25.4% | 30.1% | · | 26.6% | 25.3% | 24.9% | · | 21.9% | 18.9% | 25.0% | · | 19.6% | 17.0% | |
| Pretax Margin | 39.4% | · | 38.6% | 33.6% | 39.4% | · | 34.6% | 33.3% | 31.8% | · | 27.7% | 24.2% | 17.4% | · | 24.2% | 20.5% | |
| EBITDA Margin | 30.9% | · | 29.7% | 24.8% | 30.8% | · | 25.9% | 24.6% | 23.9% | · | 20.8% | 17.6% | 11.7% | · | 22.0% | 18.9% | |
| ROA | 3.1% | · | 3.2% | 2.8% | 3.3% | · | 3.2% | 3.0% | 2.9% | · | 2.9% | 2.4% | 2.9% | · | 2.9% | 2.4% | |
| ROE | 3.9% | · | 3.8% | 3.4% | 4.1% | · | 3.8% | 3.7% | 3.7% | · | 3.5% | 3.0% | 3.8% | · | 3.5% | 3.1% | |
| ROIC | 2.8% | · | 2.6% | 2.2% | 2.9% | · | 2.5% | 2.4% | 2.5% | · | 2.3% | 2.0% | 2.2% | · | 2.9% | 2.6% |
Liquidity & Solvency 2
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.7 | · | 7.5 | 5.6 | 4.6 | · | 6.4 | 5.0 | 4.3 | · | 5.6 | 4.4 | 4.2 | · | 4.9 | 4.2 | |
| Quick Ratio | 1.4 | · | 2.1 | 1.9 | 1.7 | · | 1.5 | 1.4 | 1.3 | · | 1.3 | 1.1 | 1.5 | · | 1.6 | 1.8 |
Efficiency 2
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | |
| Receivables Turnover | 1.7 | · | 2.8 | 2.0 | 1.8 | · | 2.7 | 1.8 | 1.7 | · | 2.5 | 1.7 | 1.4 | · | 2.4 | 1.8 |
Valuation (TTM) 9
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.24B | · | $3.06B | $2.92B | $2.78B | · | $2.64B | $2.53B | $2.38B | · | $2.29B | $2.20B | $2.12B | · | $2.07B | $1.97B | |
| Net Income TTM | $926M | · | $851M | $785M | $747M | · | $654M | $579M | $540M | · | $487M | $442M | $431M | · | $405M | $405M | |
| Market Cap | $25.41B | · | $47.86B | $46.57B | $38.09B | · | $33.86B | $31.06B | $32.09B | · | $31.02B | $32.80B | $28.69B | · | · | · | |
| P/E | 28.2 | · | 57.2 | 60.1 | 51.7 | · | 52.5 | 54.4 | 60.2 | · | 64.5 | 75.1 | 67.3 | · | 67.2 | 89.4 | |
| P/S | 7.8 | · | 15.6 | 15.9 | 13.7 | · | 12.8 | 12.3 | 13.5 | · | 13.6 | 14.9 | 13.5 | · | · | · | |
| P/B | 3.5 | · | 6.8 | 7.0 | 6.1 | · | 6.2 | 6.0 | 6.6 | · | 7.1 | 7.9 | 7.3 | · | · | · | |
| P / Tangible Book | 3.8 | · | 7.3 | 7.6 | 6.6 | · | 6.8 | 6.6 | 7.3 | · | 8.0 | 9.0 | 8.4 | · | · | · | |
| P / Cash Flow | 22.5 | · | · | · | 43.4 | · | · | · | 42.0 | · | 375.6 | 123.8 | 56.7 | · | · | · | |
| Earnings Yield | 3.5% | · | 1.8% | 1.7% | 1.9% | · | 1.9% | 1.8% | 1.7% | · | 1.6% | 1.3% | 1.5% | · | 1.5% | 1.1% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Revenue | $3.20B | $2.75B | $2.36B | $2.16B | $1.85B |
| Gross Margin % | 75.5% | 74.5% | 71.4% | 71.7% | 72.8% |
| Operating Margin % | 28.7% | 25.2% | 18.2% | 21.3% | 27.3% |
| Net Income | $909M | $714M | $526M | $488M | $427M |
| Diluted EPS | $5.44 | $4.32 | $3.22 | $3.00 | $2.63 |
Balance Sheet
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Current Ratio | 4.9 | 4.5 | 4.2 | 3.9 | 3.7 |
| Quick Ratio | 1.6 | 1.5 | 1.3 | 1.6 | 2.1 |
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Institutional owners (13F) 1,169 filers · $19.3B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 202 (+62 vs prior Q) | 146 (-43 vs prior Q) | 372 (-26 vs prior Q) | 352 (-8 vs prior Q) | +17.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $3,136,318,326 | 14,049,717 | 16.26% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,720,192,219 | 9,692,862 | 8.92% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,315,894,440 | 7,414,743 | 6.82% | Shares |
| STATE STREET CORP | $1,190,275,140 | 6,706,909 | 6.17% | Shares |
| ALLIANCEBERNSTEIN L.P. | $863,074,143 | 4,913,322 | 4.47% | Shares |
| Linonia Partnership LP | $782,571,357 | 4,409,598 | 4.06% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $710,154,520 | 4,017,334 | 3.68% | Shares |
| Pictet Asset Management Holding SA | $346,363,499 | 1,951,769 | 1.80% | Shares |
| VAN ECK ASSOCIATES CORP | $280,395,856 | 1,579,962 | 1.45% | Shares |
| NORGES BANK | $249,138,243 | 1,403,833 | 1.29% | Shares |
| EDMOND DE ROTHSCHILD HOLDING S.A. | $208,932,946 | 1,177,286 | 1.08% | Shares |
| Swedbank AB | $192,333,467 | 1,083,752 | 1.00% | Shares |
| TWO SIGMA INVESTMENTS, LP | $167,444,187 | 943,507 | 0.87% | Shares |
| GOLDMAN SACHS GROUP INC | $152,734,054 | 860,619 | 0.79% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $149,150,047 | 840,424 | 0.77% | Shares |
| Robeco Institutional Asset Management B.V. | $147,431,430 | 830,740 | 0.76% | Shares |
| Fundsmith LLP | $144,954,834 | 816,785 | 0.75% | Shares |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA | $140,493,805 | 791,648 | 0.73% | Shares |
| BLAIR WILLIAM & CO/IL | $133,252,033 | 750,843 | 0.69% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $132,375,228 | 745,902 | 0.69% | Shares |
| RGM Capital, LLC | $124,243,568 | 556,572 | 0.64% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $102,656,102 | 578,442 | 0.53% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $97,570,699 | 549,787 | 0.51% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $93,867,028 | 528,918 | 0.49% | Shares |
| Emergence GP Partners, LLC | $88,735,000 | 500,000 | 0.46% | Shares |
| Nellore Capital Management LLC | $85,986,877 | 484,515 | 0.45% | Shares |
| FIRST TRUST ADVISORS LP | $81,431,979 | 458,849 | 0.42% | Shares |
| BANK OF AMERICA CORP /DE/ | $80,998,018 | 456,404 | 0.42% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $79,940,000 | 450,440 | 0.41% | Shares |
| JENSEN INVESTMENT MANAGEMENT INC | $79,770,813 | 449,489 | 0.41% | Shares |
| BlackRock, Inc. | $77,122,428 | 434,566 | 0.40% | Shares |
| Ashe Capital Management, LP | $75,232,550 | 423,917 | 0.39% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $74,666,243 | 420,726 | 0.39% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $73,714,058 | 423,912 | 0.38% | Shares |
| Swiss National Bank | $73,579,062 | 414,600 | 0.38% | Shares |
| Stockbridge Partners LLC | $71,807,379 | 404,617 | 0.37% | Shares |
| CITADEL ADVISORS LLC | $71,591,398 | 403,400 | 0.37% | Call option |
| TimesSquare Capital Management, LLC | $71,518,915 | 407,144 | 0.37% | Shares |
| Caisse de depot et placement du Quebec | $70,250,257 | 395,843 | 0.36% | Shares |
| Capital Impact Advisors, LLC | $68,804,764 | 387,698 | 0.36% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $68,627,649 | 386,700 | 0.36% | Put option |
| ENVESTNET ASSET MANAGEMENT INC | $67,429,627 | 379,949 | 0.35% | Shares |
| Legal & General Group Plc | $63,989,295 | 360,564 | 0.33% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $63,853,351 | 359,798 | 0.33% | Shares |
| ABN AMRO Bank N.V. | $63,302,325 | 357,026 | 0.33% | Shares |
| Mawer Investment Management Ltd. | $63,070,886 | 355,389 | 0.33% | Shares |
| FRED ALGER MANAGEMENT, LLC | $62,933,702 | 354,616 | 0.33% | Shares |
| Empower Advisory Group, LLC | $62,569,331 | 352,563 | 0.32% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $60,197,824 | 339,200 | 0.31% | Call option |
| Sumitomo Mitsui Trust Group, Inc. | $59,841,287 | 337,191 | 0.31% | Shares |
| DF DENT & CO INC | $59,341,178 | 334,373 | 0.31% | Shares |
| Lansforsakringar Fondforvaltning AB (publ) | $58,929,446 | 332,053 | 0.31% | Shares |
| BARCLAYS PLC | $57,988,855 | 326,753 | 0.30% | Shares |
| Lead Edge Capital Management, LLC | $57,909,526 | 326,306 | 0.30% | Shares |
| Vanguard Global Advisers, LLC | $57,448,636 | 323,709 | 0.30% | Shares |
| Seilern Investment Management Ltd | $56,263,669 | 317,032 | 0.29% | Shares |
| RIVERBRIDGE PARTNERS LLC | $55,615,148 | 313,378 | 0.29% | Shares |
| TD Asset Management Inc | $53,525,484 | 301,603 | 0.28% | Shares |
| Alfreton Capital LLP | $53,241,000 | 300,000 | 0.28% | Shares |
| Chicago Capital, LLC | $51,678,540 | 291,196 | 0.27% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $51,435,953 | 289,829 | 0.27% | Shares |
| Candriam S.C.A. | $51,368,026 | 289,725 | 0.27% | Shares |
| RHUMBLINE ADVISERS | $50,064,545 | 282,102 | 0.26% | Shares |
| National Pension Service | $49,010,293 | 276,161 | 0.25% | Shares |
| California Public Employees Retirement System | $48,467,589 | 273,103 | 0.25% | Shares |
| JANE STREET GROUP, LLC | $48,449,310 | 273,000 | 0.25% | Call option |
| Quantum Capital Management, LLC / NJ | $48,339,988 | 272,384 | 0.25% | Shares |
| TWO SIGMA ADVISERS, LP | $48,253,397 | 216,160 | 0.25% | Shares |
| MILLENNIUM MANAGEMENT LLC | $48,053,907 | 270,772 | 0.25% | Shares |
| FUNDSMITH INVESTMENT SERVICES LTD. | $45,977,153 | 259,070 | 0.24% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $45,391,324 | 255,769 | 0.24% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $43,884,427 | 247,278 | 0.23% | Shares |
| Champlain Investment Partners, LLC | $43,315,813 | 244,074 | 0.22% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $42,754,653 | 240,912 | 0.22% | Shares |
| Defilade Capital Management, L.P. | $42,008,746 | 236,709 | 0.22% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $41,454,706 | 235,994 | 0.21% | Shares |
| Assenagon Asset Management S.A. | $40,894,057 | 230,428 | 0.21% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $39,998,544 | 225,382 | 0.21% | Shares |
| LOOMIS SAYLES & CO L P | $39,930,750 | 225,000 | 0.21% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $39,919,134 | 224,702 | 0.21% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $39,330,901 | 221,620 | 0.20% | Shares |
| BAILLIE GIFFORD & CO | $38,965,668 | 219,562 | 0.20% | Shares |
| CDAM (UK) Ltd | $37,845,123 | 213,248 | 0.20% | Shares |
| Route One Investment Company, L.P. | $37,508,285 | 211,350 | 0.19% | Shares |
| AMERIPRISE FINANCIAL INC | $36,814,199 | 207,439 | 0.19% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $36,729,014 | 206,959 | 0.19% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $36,350,648 | 204,827 | 0.19% | Shares |
| MARTIN CURRIE LTD | $36,029,466 | 125,111 | 0.19% | Shares |
| MAKENA CAPITAL MANAGEMENT LLC | $35,931,464 | 202,465 | 0.19% | Shares |
| LPL Financial LLC | $35,289,480 | 198,847 | 0.18% | Shares |
| AMERICAN CAPITAL MANAGEMENT INC | $34,934,615 | 196,848 | 0.18% | Shares |
| FIL Ltd | $34,288,801 | 193,209 | 0.18% | Shares |
| RAYMOND JAMES FINANCIAL INC | $33,826,314 | 190,603 | 0.18% | Shares |
| FMR LLC | $33,694,809 | 189,862 | 0.17% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $33,360,988 | 187,981 | 0.17% | Shares |
| Woodline Partners LP | $33,010,485 | 186,006 | 0.17% | Shares |
| Trexquant Investment LP | $32,298,475 | 181,994 | 0.17% | Shares |
| SEB Asset Management AB | $30,838,388 | 173,767 | 0.16% | Shares |
| BAMCO INC /NY/ | $29,757,460 | 167,676 | 0.15% | Shares |
| Squarepoint Ops LLC | $29,516,455 | 166,318 | 0.15% | Shares |
Company insiders 29 insiders · 10 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Peter P Gassner | Chief Executive Officer | Dec. 17, 2020 C | 41,000 | 0 | 0 | $0 |
| Brian Van Wagener | Chief Financial Officer | July 1, 2026 M | 9,325 | 0 | 0 | $0 |
| Brent R Bowman | Chief Financial Officer | April 15, 2021 A | 915 | 0 | 0 | $0 |
| Eleni Nitsa Zuppas | President & Chief of Staff | July 1, 2026 M | 33,418 | 0 | 0 | $0 |
| Vipin Kondath | Chief Accounting Officer | July 1, 2026 M | 2,783 | 0 | 0 | $0 |
| Jonathan Faddis | SVP, Gen. Counsel, Secretary | July 1, 2026 M | 9,328 | 0 | 0 | $0 |
| Alan Mateo | EVP Global Sales | May 10, 2021 M | 2,597 | 0 | 0 | $0 |
| Michele O'Connor | Chief Accounting Officer | April 15, 2021 A | 168 | 0 | 0 | $0 |
| Frederic Lequient | SVP Global Customer Services | April 15, 2021 A | 882 | 0 | 0 | $0 |
| Frank Defesche | SVP, Global Customer Services | March 21, 2016 C | 1,256 | 0 | 0 | $0 |
| Timothy S Cabral | Director | June 17, 2026 A | 1,049 | 0 | 0 | $0 |
| Gordon Ritter | Director | June 17, 2026 A | 595 | 0 | 0 | $0 |
| Matthew J Wallach | Director | June 17, 2026 A | 106,933 | 0 | 0 | $0 |
| Priscilla Hung | Director | June 17, 2026 A | 3,515 | 0 | 0 | $0 |
| Mary Lynne Hedley | Director | June 17, 2026 A | 7,152 | 0 | 0 | $0 |
| Mark T Carges | Director | June 17, 2026 A | 271 | 0 | 0 | $0 |
| Paul J Sekhri | Director | June 17, 2026 A | 15,191 | 0 | 0 | $0 |
| Marshall Mohr | Director | June 17, 2026 A | 5,976 | 0 | 0 | $0 |
| Paul Edward Chamberlain | Director | March 31, 2021 S | 15,750 | 0 | 0 | $0 |
| Timothy C Barabe | Director | March 25, 2021 M | 6,392 | 0 | 0 | $0 |
| Ronald E F Codd | Director | March 25, 2021 M | 832 | 0 | 0 | $0 |
| Kevin Spain | Director | June 24, 2014 C | 0 | 0 | 0 | $0 |
| Mark Armenante | 10% owner | April 19, 2016 C | 0 | 0 | 0 | $0 |
| Young A Sohn | 10% owner | April 15, 2016 C | 0 | 0 | 0 | $0 |
| Maja Kristin | 10% owner | May 5, 2014 C | 1,329 | 0 | 0 | $0 |
| Jenna Mitchell | 10% owner | March 31, 2014 C | 0 | 0 | 0 | $0 |
| James Burr Ramsey | 10% owner | March 31, 2014 C | 0 | 0 | 0 | $0 |
| Craig Ramsey | 10% owner | March 31, 2014 C | 0 | 0 | 0 | $0 |
| Thomas D. Schwenger | — | Aug. 13, 2026 M | 19,449 | 0 | 4 | $-10,008,384 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 159 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IHF · iShares Trust | 4.85% | 275,528 SH | Aug. 8, 2026 | Daily |
| HEAL · Global X Funds | 4.13% | 5,934 NS | May 31, 2026 | N-PORT |
| NUMG · Nushares ETF Trust | 2.33% | 52,776 NS | April 30, 2026 | N-PORT |
| RSPH · Invesco Exchange-Traded Fund Trust | 2.13% | 72,411 SH | Aug. 8, 2026 | Daily |
| JGRW · Trust for Professional Managers | 1.81% | 9,976 NS | May 31, 2026 | N-PORT |
| FMED · Fidelity Covington Trust | 1.78% | 4,188 NS | May 31, 2026 | N-PORT |
| SMRI · EA Series Trust | 1.63% | 56,423 NS | April 30, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 1.38% | 2,537 NS | May 31, 2026 | N-PORT |
| FDND · First Trust Exchange-Traded Fund IV | 1.11% | 680 NS | April 30, 2026 | N-PORT |
| HTEC · EXCHANGE TRADED CONCEPTS TRUST | 0.96% | 3,271 NS | April 30, 2026 | N-PORT |
| CVAR · ETF Opportunities Trust | 0.90% | 2,225 NS | April 30, 2026 | N-PORT |
| OGIG · ALPS ETF Trust | 0.80% | 5,265 NS | May 31, 2026 | N-PORT |
| FLCG · Federated Hermes ETF Trust | 0.75% | 24,609 NS | May 31, 2026 | N-PORT |
| WEBL · Direxion Shares ETF Trust | 0.72% | 5,197 NS | April 30, 2026 | N-PORT |
| CGMM · Capital Group Equity ETF Trust I | 0.65% | 104,800 NS | May 31, 2026 | N-PORT |
| VOT · VANGUARD INDEX FUNDS | 0.57% | 1,124,661 SH | Aug. 8, 2026 | Daily |
| IYH · iShares Trust | 0.53% | 89,298 SH | Aug. 8, 2026 | Daily |
| SXQG · EXCHANGE TRADED CONCEPTS TRUST | 0.53% | 2,045 NS | May 31, 2026 | N-PORT |
| FLCV · Federated Hermes ETF Trust | 0.52% | 2,865 NS | May 31, 2026 | N-PORT |
| UPSD · ETF Series Solutions | 0.45% | 2,895 NS | April 30, 2026 | N-PORT |
| EGUS · iShares Trust | 0.44% | 577 SH | Aug. 8, 2026 | Daily |
| FLCC · Federated Hermes ETF Trust | 0.44% | 3,071 NS | May 31, 2026 | N-PORT |
| COWG · Pacer Funds Trust | 0.44% | 61,033 NS | April 30, 2026 | N-PORT |
| IMCG · iShares Trust | 0.44% | 81,398 SH | Aug. 8, 2026 | Daily |
| IXJ · iShares Trust | 0.41% | 78,720 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.39% | 71,993 NS | April 30, 2026 | N-PORT |
| NULC · Nushares ETF Trust | 0.38% | 1,402 NS | April 30, 2026 | N-PORT |
| RXL · ProShares Trust | 0.38% | 1,577 NS | May 31, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.38% | 441,965 SH | Aug. 8, 2026 | Daily |
| FXH · First Trust Exchange-Traded AlphaDE… | 0.36% | 20,198 NS | April 30, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 0.36% | 415,076 NS | April 30, 2026 | N-PORT |
| QQWZ · Pacer Funds Trust | 0.35% | 1,063 NS | April 30, 2026 | N-PORT |
| IWS · iShares Trust | 0.31% | 225,120 SH | Aug. 8, 2026 | Daily |
| SUSA · iShares Trust | 0.30% | 57,775 SH | Aug. 8, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.26% | 1,133,241 SH | Aug. 8, 2026 | Daily |
| SKYU · ProShares Trust | 0.26% | 53 NS | May 31, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.25% | 3,181,242 SH | Aug. 8, 2026 | Daily |
| SIZE · iShares Trust | 0.24% | 4,895 SH | Aug. 8, 2026 | Daily |
| AOTG · EA Series Trust | 0.24% | 1,418 NS | May 29, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.24% | 20,784 SH | Aug. 8, 2026 | Daily |
| MMLG · First Trust Exchange-Traded Fund VI… | 0.24% | 1,268 NS | May 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.23% | 607,477 SH | Aug. 8, 2026 | Daily |
| NULG · Nushares ETF Trust | 0.23% | 38,516 NS | April 30, 2026 | N-PORT |
| IMCB · iShares Trust | 0.22% | 17,188 SH | Aug. 8, 2026 | Daily |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.21% | 4,818 NS | May 31, 2026 | N-PORT |
| GSEW · Goldman Sachs ETF Trust | 0.20% | 20,559 NS | May 31, 2026 | N-PORT |
| JSTC · Tidal Trust I | 0.20% | 3,841 NS | May 31, 2026 | N-PORT |
| ACGR · AMERICAN CENTURY ETF TRUST | 0.19% | 127 NS | May 31, 2026 | N-PORT |
| LRGF · iShares Trust | 0.19% | 31,934 SH | Aug. 8, 2026 | Daily |
| XOEF · iShares Trust | 0.18% | 188 SH | Aug. 8, 2026 | Daily |