8,120 Shares of Veeva Systems Inc. $VEEV Bought by IPG Investment Advisors LLC

IPG Investment Advisors LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,120 shares of the technology company’s stock, valued at approximately $2,318,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Czech National Bank acquired a new position in shares of Veeva Systems during the second quarter worth $7,584,000. Vulcan Value Partners LLC acquired a new stake in Veeva Systems in the second quarter valued at $3,769,000. Westwind Capital acquired a new stake in Veeva Systems in the third quarter valued at $1,684,000. East Coast Asset Management LLC. purchased a new stake in Veeva Systems during the 1st quarter worth about $1,665,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in Veeva Systems during the 3rd quarter worth about $1,179,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.1%

Shares of NYSE VEEV opened at $303.66 on Wednesday. The business has a 50-day moving average price of $286.26 and a 200 day moving average price of $210.61. The stock has a market cap of $49.17 billion, a PE ratio of 49.60, a price-to-earnings-growth ratio of 1.31 and a beta of 0.89. 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 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to analyst estimates 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 was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. Sell-side analysts anticipate that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VEEV. Canaccord Genuity Group raised their target price on Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Piper Sandler upped their price target on Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $295.00 price target on shares of Veeva Systems in a research note on Thursday, August 27th. Needham & Company LLC raised their price objective 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. Finally, Weiss Ratings upgraded shares of 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.21.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 5,198 shares of the company’s stock in a transaction on 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 in the company, valued at $1,237,843.60. This represents a 55.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas D. Schwenger sold 10,000 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were 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 owned 19,449 shares of the company’s stock, 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 sold a total of 56,789 shares of company stock valued at $14,913,889 over the last ninety days. 10.60% of the stock is owned by insiders.

Veeva Systems 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.