Veeva Systems Inc. $VEEV Shares Newly Purchased by Western Financial Corp CA

Western Financial Corp CA purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,792 shares of the technology company’s stock, valued at approximately $1,368,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lodestone Wealth Management LLC raised its position in shares of Veeva Systems by 68.3% during the 3rd quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock worth $39,000 after acquiring an additional 56 shares in the last quarter. Seelaus Asset Management LLC boosted its holdings in Veeva Systems by 41.1% in the third quarter. Seelaus Asset Management LLC now owns 2,295 shares of the technology company’s stock valued at $655,000 after purchasing an additional 668 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in Veeva Systems in the third quarter valued at approximately $1,179,000. B. Riley Wealth Advisors Inc. acquired a new stake in Veeva Systems during the third quarter worth approximately $316,000. Finally, Krilogy Financial LLC raised its holdings in Veeva Systems by 13.0% during the third quarter. Krilogy Financial LLC now owns 4,828 shares of the technology company’s stock worth $1,428,000 after purchasing an additional 555 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the sale, the director owned 3,242 shares in the company, valued at $846,291.68. This represents a 18.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Schwenger sold 36,000 shares of the company’s stock in a transaction on 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 of the company’s stock, 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 have sold 51,591 shares of company stock valued at $13,355,945 in the last ninety days. 10.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Guggenheim boosted their price objective on shares of Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. TD Cowen increased their target price on shares of Veeva Systems from $235.00 to $283.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Jefferies Financial Group reiterated a “buy” rating and set a $295.00 price target on shares of Veeva Systems in a research note on Thursday, August 27th. Piper Sandler lifted their price target on shares of Veeva Systems from $295.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Finally, Canaccord Genuity Group boosted their price target on shares of Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 27th. Nineteen 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $284.88.

More Veeva Systems News

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: IQVIA standardizes on Veeva’s clinical software: IQVIA selected Veeva Clinical Trial Management System, eTMF, Study Startup and Site Connect as enterprise-standard applications across its global clinical development studies. The agreement expands an existing electronic data capture partnership, strengthens Veeva’s position in clinical-trial workflows and could increase adoption among IQVIA’s biopharma customers. IQVIA Selects Veeva Clinical Operations Applications
• Positive Sentiment: Veeva Basics gains traction: More than 175 emerging biotechnology companies are using Veeva Basics, supporting the company’s strategy of serving smaller customers with streamlined clinical, regulatory and quality software. This could create a long-term pipeline as these companies grow and require broader enterprise solutions. Veeva Systems’ Basics Gains Traction With 175+ Emerging Biotech Firms
• Positive Sentiment: Technical momentum remains favorable: Veeva shares recently reached a 52-week high and moved above a buy point in an early-stage chart pattern, suggesting institutional investors may be increasing exposure to the company’s cloud and AI-related software opportunity. Veeva Stock Breaks Out as Big Money Grabs Exposure
• Neutral Sentiment: Investor Day scheduled: Veeva will hold a virtual Investor Day on November 5, which may provide updated details on growth plans, product adoption, artificial-intelligence initiatives and financial targets. Veeva to Host Virtual Investor Day
• Negative Sentiment: Valuation and profit-taking risk: With VEEV trading near its 52-week high at a forward-looking premium valuation, investors may be locking in gains after the recent advance. That dynamic can weigh on the stock even as the IQVIA announcement improves Veeva’s longer-term growth outlook.

Veeva Systems Stock Down 1.5%

NYSE:VEEV traded down $4.46 during mid-day trading on Wednesday, reaching $297.17. 1,239,755 shares of the stock were exchanged, compared to its average volume of 2,327,460. The company has a 50 day simple moving average of $266.28 and a 200-day simple moving average of $206.24. The stock has a market capitalization of $48.12 billion, a P/E ratio of 48.88, a P/E/G ratio of 1.26 and a beta of 0.93. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $309.32.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business 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. As a group, research analysts predict that Veeva Systems Inc. will post 6.70 EPS for the current year.

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.