Veeva Systems Inc. $VEEV Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,139 shares of the technology company’s stock after selling 2,777 shares during the quarter. Boston Trust Walden Corp’s holdings in Veeva Systems were worth $5,463,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. boosted its position in shares of Veeva Systems by 0.4% during the third quarter. Investment Research & Advisory Group Inc. now owns 12,942 shares of the technology company’s stock worth $3,699,000 after acquiring an additional 51 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Veeva Systems by 0.9% during the third quarter. Chicago Partners Investment Group LLC now owns 5,972 shares of the technology company’s stock valued at $1,929,000 after purchasing an additional 55 shares in the last quarter. Lodestone Wealth Management LLC grew its position in shares of Veeva Systems by 68.3% during the third quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock valued at $39,000 after purchasing an additional 56 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in shares of Veeva Systems by 1.2% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,664 shares of the technology company’s stock valued at $1,331,000 after purchasing an additional 57 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its holdings in shares of Veeva Systems by 181.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock worth $27,000 after purchasing an additional 60 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 1.9%

VEEV stock opened at $304.23 on Friday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $325.99. The company has a 50-day moving average price of $289.24 and a 200 day moving average price of $211.95. The stock has a market cap of $49.26 billion, a PE ratio of 50.04, a P/E/G ratio of 1.31 and a beta of 0.89.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $905.38 million. During the same period in the prior year, the company posted $1.99 EPS. The firm’s revenue for the quarter 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 forecast that Veeva Systems Inc. will post 6.70 EPS for the current year.

Key Stories Impacting Veeva Systems

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

• Positive Sentiment: Royal Bank of Canada raised its price target to $365 from $325 and reiterated an “outperform” rating, implying about 20% upside from the cited $304.23 share price. Royal Bank of Canada recommendations
• Positive Sentiment: Needham raised its target to $360 from $310 and maintained a “buy” rating, citing about 18% potential upside from $304.23. Needham recommendations
• Positive Sentiment: Stifel lifted its price target to $340 from $300, adding to the wave of upward target revisions. Stifel raises Veeva price target
• Positive Sentiment: UCB selected Veeva Vault CRM as a core platform for its commercial operations and plans to use industry-specific AI for product launches and customer engagement. The deal supports Veeva’s positioning as a specialized technology provider for life sciences companies. Veeva becomes core CRM choice for major biopharma AI rollout

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VEEV shares. Jefferies Financial Group lifted their price objective on Veeva Systems from $295.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings upgraded Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada raised their target price on shares of Veeva Systems from $325.00 to $365.00 and gave the company an “outperform” rating in a report on Friday. Citigroup boosted their price target on shares of Veeva Systems from $190.00 to $273.00 and gave the stock a “neutral” rating in a research report on Friday, August 28th. Finally, TD Cowen upped their price target on shares of Veeva Systems from $235.00 to $283.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $309.08.

Insiders Place Their Bets

In related news, EVP Daniel J. Rizzo sold 4,841 shares of Veeva Systems stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the completion of the sale, the executive vice president owned 7,665 shares in the company, valued at $2,119,449.15. This trade represents a 38.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $846,291.68. The trade was a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 56,789 shares of company stock worth $14,913,889. Insiders own 10.60% of the company’s stock.

Veeva Systems Profile

Veeva Systems Inc develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations.

The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.

Founded in 2007 and headquartered in Pleasanton, California, Veeva serves life sciences companies in markets around the world.