Veeva Systems Inc. $VEEV Stock: Investment House LLC Increases Holdings

Investment House LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 163.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,070 shares of the technology company’s stock after purchasing an additional 20,515 shares during the quarter. Investment House LLC’s holdings in Veeva Systems were worth $9,440,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SHP Wealth Management purchased a new stake in shares of Veeva Systems in the fourth quarter worth about $26,000. Compass Financial Management LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at about $27,000. Burkett Financial Services LLC acquired a new stake in shares of Veeva Systems in the third quarter valued at about $27,000. Arlington Trust Co LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at about $29,000. Finally, Field & Main Bank purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.8%

Shares of VEEV opened at $322.96 on Friday. The firm has a market cap of $52.29 billion, a price-to-earnings ratio of 53.12, a PEG ratio of 1.37 and a beta of 0.93. The business’s 50 day moving average is $276.07 and its two-hundred day moving average is $212.28. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $325.99.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.99 earnings per share. 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, equities analysts expect that Veeva Systems Inc. will post 6.70 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 5,198 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total value of $1,557,944.56. Following the completion of the sale, the senior vice president owned 4,130 shares of the company’s stock, valued at approximately $1,237,843.60. The trade was a 55.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Schwenger sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the completion of the sale, the insider owned 19,449 shares in the company, valued at approximately $4,866,723.27. This trade represents a 64.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 56,789 shares of company stock valued at $14,913,889 in the last 90 days. 10.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Truist Financial upped their price target on Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Weiss Ratings upgraded shares of Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Oppenheimer reissued an “outperform” rating and set a $325.00 target price on shares of Veeva Systems in a research report on Thursday, October 15th. Needham & Company LLC upped their target price on shares of Veeva Systems from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, Robert W. Baird upped their target price on shares of Veeva Systems from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $287.79.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.