Insider Selling: Veeva Systems (NYSE:VEEV) Insider Sells $2,813,300.00 in Stock

Veeva Systems Inc. (NYSE:VEEV) insider Thomas Schwenger sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the sale, the insider directly owned 19,449 shares of the company’s stock, valued at approximately $5,471,587.17. This represents a 33.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded up $8.87 on Monday, hitting $285.56. 2,835,843 shares of the company’s stock were exchanged, compared to its average volume of 2,488,136. The company has a 50-day simple moving average of $208.48 and a 200-day simple moving average of $184.39. The stock has a market capitalization of $46.39 billion, a PE ratio of 46.97, a PEG ratio of 1.19 and a beta of 0.92. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the previous year, the firm posted $1.99 EPS. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. On average, analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on VEEV. Truist Financial raised their price objective on Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler boosted their price objective on Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets increased their target price on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a report on Thursday. Canaccord Genuity Group lifted their price target on shares of Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a report on Thursday. Finally, Stifel Nicolaus set a $300.00 price target on shares of Veeva Systems in a research report on Thursday. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $284.46.

Hedge Funds Weigh In On Veeva Systems

A number of hedge funds have recently made changes to their positions in VEEV. California State Teachers Retirement System grew its holdings in Veeva Systems by 16,590.3% during the 2nd quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company’s stock valued at $6,990,228,000 after buying an additional 39,152,230 shares in the last quarter. Norges Bank purchased a new position in shares of Veeva Systems in the fourth quarter worth $332,412,000. Durable Capital Partners LP purchased a new position in shares of Veeva Systems in the second quarter worth $281,351,000. Fundsmith LLP bought a new position in shares of Veeva Systems during the second quarter worth $144,955,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Veeva Systems by 203.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after acquiring an additional 611,868 shares during the last quarter. Institutional investors own 88.20% 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.