Sigma Planning Corp Lowers Stock Holdings in Veeva Systems Inc. $VEEV

Sigma Planning Corp lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 48.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,410 shares of the technology company’s stock after selling 3,230 shares during the period. Sigma Planning Corp’s holdings in Veeva Systems were worth $599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Sivia Capital Partners LLC increased its holdings in shares of Veeva Systems by 225.9% in the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after purchasing an additional 2,164 shares during the period. Bank of Nova Scotia grew its position in Veeva Systems by 44.5% in the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after buying an additional 1,806 shares during the last quarter. NewEdge Advisors LLC grew its position in Veeva Systems by 34.6% in the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock valued at $2,543,000 after buying an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Veeva Systems by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock valued at $19,856,000 after buying an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC increased its stake in Veeva Systems by 5.3% in the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock valued at $3,140,000 after buying an additional 575 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

NYSE VEEV opened at $197.74 on Tuesday. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The company has a market capitalization of $32.12 billion, a P/E ratio of 35.25, a PEG ratio of 0.84 and a beta of 0.94. The business has a 50 day moving average price of $172.43 and a 200 day moving average price of $182.36.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.Veeva Systems’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.97 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. On average, research analysts expect that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. BNP Paribas Exane reiterated an “outperform” rating and set a $285.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. TD Cowen reissued a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $275.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, UBS Group lowered their price objective on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.74.

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.