10,000 Veeva Systems Inc. $VEEV Shares Sold by General American Investors Co. Inc.

General American Investors Co. Inc. lessened its holdings in Veeva Systems Inc. (NYSE:VEEV) by 17.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 48,006 shares of the technology company’s stock after selling 10,000 shares during the period. General American Investors Co. Inc.’s holdings in Veeva Systems were worth $13,703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of Veeva Systems by 7.9% in the third quarter. Allegiance Financial Group Advisory Services LLC now owns 1,306 shares of the technology company’s stock worth $373,000 after buying an additional 96 shares in the last quarter. Alamar Capital Management LLC bought a new position in shares of Veeva Systems during the 3rd quarter valued at about $257,000. Alta Advisers Ltd purchased a new position in shares of Veeva Systems during the third quarter valued at about $311,000. Legacies Wealth LLC purchased a new position in shares of Veeva Systems during the third quarter valued at about $144,000. Finally, Kestra Advisory Services LLC grew its holdings in Veeva Systems by 99.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 4,742 shares of the technology company’s stock valued at $1,354,000 after buying an additional 2,360 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VEEV. Canaccord Genuity Group upped their price objective on Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 27th. Evercore raised their target price on shares of Veeva Systems from $185.00 to $250.00 in a report on Thursday, October 8th. BNP Paribas Exane upped their price target on shares of Veeva Systems from $285.00 to $300.00 in a research note on Thursday, August 27th. Truist Financial lifted their price objective on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings upgraded shares of Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $309.08.

Veeva Systems Stock Performance

NYSE VEEV traded down $5.87 during trading on Friday, hitting $304.23. The stock had a trading volume of 1,746,403 shares, compared to its average volume of 1,508,434. The stock has a market capitalization of $49.26 billion, a price-to-earnings ratio of 50.04, a P/E/G ratio of 1.31 and a beta of 0.89. The stock has a 50 day simple moving average of $289.24 and a 200 day simple moving average of $211.95. Veeva Systems Inc. has a one year low of $148.05 and a one year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The firm had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same period last year, the company earned $1.99 EPS. Veeva Systems’s quarterly 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, sell-side analysts predict that Veeva Systems Inc. will post 6.70 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Daniel J. Rizzo sold 4,841 shares of the business’s stock in a transaction on 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 directly owned 7,665 shares of the company’s stock, valued at approximately $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the transaction, the director owned 3,242 shares in the company, valued at approximately $846,291.68. The trade was a 18.79% decrease in their ownership of the stock. 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.

Key Veeva Systems News

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

Veeva Systems Company 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.