Veeva Systems Inc. $VEEV Shares Sold by Slow Capital Inc.

Slow Capital Inc. lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 32,988 shares of the technology company’s stock after selling 1,584 shares during the quarter. Veeva Systems comprises approximately 1.0% of Slow Capital Inc.’s holdings, making the stock its 29th largest holding. Slow Capital Inc.’s holdings in Veeva Systems were worth $9,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake 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 valued at $727,513,000 after purchasing an additional 271,252 shares during the period. Swedbank AB lifted its holdings in Veeva Systems by 43.5% during the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock worth $288,983,000 after buying an additional 498,971 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Veeva Systems by 43.6% in the first quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock worth $279,970,000 after purchasing an additional 483,720 shares during the period. Amundi boosted its holdings in shares of 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 boosted its stake in Veeva Systems by 203.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after acquiring an additional 611,868 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on VEEV. Morgan Stanley upped their target price on shares of Veeva Systems from $215.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 27th. Citigroup upped their price target on shares of Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a report on Friday, August 28th. TD Cowen raised their price objective on Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Piper Sandler raised their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Finally, Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $287.79.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the completion of the sale, the insider directly owned 19,449 shares of the company’s stock, valued at $5,471,587.17. This trade represents a 33.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Rizzo sold 4,841 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $276.51, for a total value of $1,338,584.91. Following the sale, the executive vice president directly owned 7,665 shares of the company’s stock, valued at $2,119,449.15. This trade represents a 38.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 56,789 shares of company stock valued at $14,913,889 in the last three months. 10.60% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

Shares of VEEV opened at $323.31 on Monday. The company has a market capitalization of $52.35 billion, a PE ratio of 53.18, a PEG ratio of 1.38 and a beta of 0.93. The company’s 50 day moving average price is $277.66 and its 200 day moving average price is $213.32. 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 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 the consensus estimate of $905.38 million. During the same quarter in the prior year, the firm earned $1.99 EPS. The company’s 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. On average, equities analysts forecast that Veeva Systems Inc. will post 6.70 earnings per share for the current fiscal year.

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.