2,142 Veeva Systems Inc. $VEEV Shares Sold by Columbia Bank

Columbia Bank lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 58.1% in the third quarter, HoldingsChannel reports. The fund owned 1,546 shares of the technology company’s stock after selling 2,142 shares during the period. Columbia Bank’s holdings in Veeva Systems were worth $441,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Veeva Systems in the third quarter worth about $14,219,000. ProShare Advisors LLC grew its position in Veeva Systems by 0.9% in the 3rd quarter. ProShare Advisors LLC now owns 24,304 shares of the technology company’s stock valued at $6,938,000 after buying an additional 210 shares in the last quarter. Americana Partners LLC increased its stake in Veeva Systems by 1.4% during the 3rd quarter. Americana Partners LLC now owns 4,694 shares of the technology company’s stock valued at $1,340,000 after buying an additional 67 shares during the period. Avestar Capital LLC acquired a new position in Veeva Systems during the 3rd quarter valued at about $3,704,000. Finally, Renaissance Investment Group LLC acquired a new position in Veeva Systems during the 3rd quarter valued at about $3,042,000. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on VEEV shares. Stifel Nicolaus set a $300.00 price target on shares of Veeva Systems in a research report on Thursday, August 27th. Guggenheim increased their price objective on shares of Veeva Systems from $276.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Truist Financial raised their price objective on shares of Veeva Systems from $262.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Royal Bank Of Canada boosted their target price on Veeva Systems from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Finally, Weiss Ratings upgraded Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. 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. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $293.21.

Veeva Systems Stock Up 0.9%

NYSE:VEEV opened at $313.04 on Friday. The business’s 50-day moving average price is $283.97 and its 200 day moving average price is $209.79. The firm has a market cap of $50.68 billion, a P/E ratio of 51.49, a PEG ratio of 1.34 and a beta of 0.93. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $325.99.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results 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. 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 period in the prior year, the company earned $1.99 EPS. Veeva Systems’s revenue was up 17.6% on a year-over-year basis. 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. Sell-side analysts expect that Veeva Systems Inc. will post 6.70 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, EVP Daniel J. Rizzo sold 4,841 shares of Veeva Systems stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total value of $1,338,584.91. Following the transaction, the executive vice president owned 7,665 shares in the company, valued at approximately $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Thomas D. Schwenger sold 10,000 shares of Veeva Systems stock in a transaction that occurred on 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 transaction, the insider owned 19,449 shares in the company, valued at approximately $5,471,587.17. This trade represents a 33.96% 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 56,789 shares of company stock valued at $14,913,889 over the last quarter. Company insiders own 10.60% of the company’s stock.

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.