Veeva Systems Inc. $VEEV Shares Sold by Seilern Investment Management Ltd

Seilern Investment Management Ltd lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 43.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 178,815 shares of the technology company’s stock after selling 138,217 shares during the period. Veeva Systems makes up 6.4% of Seilern Investment Management Ltd’s portfolio, making the stock its 4th largest position. Seilern Investment Management Ltd’s holdings in Veeva Systems were worth $51,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in VEEV. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 7.0% during the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares during the period. Swedbank AB grew its position in Veeva Systems by 43.5% in the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock valued at $288,983,000 after buying an additional 498,971 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Veeva Systems by 43.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock valued at $279,970,000 after buying an additional 483,720 shares during the period. Amundi increased its stake in Veeva Systems by 8.0% in the 1st quarter. Amundi now owns 992,977 shares of the technology company’s stock valued at $174,426,000 after buying an additional 73,510 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after buying an additional 611,868 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 10,000 shares of Veeva Systems stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $281.33, for a total value of $2,813,300.00. Following the completion of the sale, the insider owned 19,449 shares in the company, valued at $5,471,587.17. The trade was a 33.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Rizzo sold 4,841 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the completion of the sale, the executive vice president owned 7,665 shares of the company’s stock, valued at approximately $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 51,591 shares of company stock valued at $13,355,945 in the last ninety days. Insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 3.3%

Shares of Veeva Systems stock traded up $9.70 on Tuesday, hitting $305.55. The company’s stock had a trading volume of 1,122,332 shares, compared to its average volume of 2,326,892. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $309.32. The firm has a fifty day moving average price of $262.80 and a 200-day moving average price of $204.53. The company has a market capitalization of $49.47 billion, a P/E ratio of 50.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.93.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping 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 company had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. During the same quarter in the previous year, the business posted $1.99 earnings per share. The firm’s quarterly revenue 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. As a group, analysts expect that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on VEEV shares. Royal Bank Of Canada lifted their target price on shares of Veeva Systems from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Needham & Company LLC increased their price target on shares of Veeva Systems from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Stifel Nicolaus set a $300.00 price objective on shares of Veeva Systems in a research report on Thursday, August 27th. Piper Sandler increased their target price on Veeva Systems from $295.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Finally, UBS Group raised their price target on Veeva Systems from $190.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.88.

Veeva Systems Profile

Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.

The company’s product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.

Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.