Zevenbergen Capital Investments LLC Sells 1,796 Shares of Veeva Systems Inc. $VEEV

Zevenbergen Capital Investments LLC lessened its position in Veeva Systems Inc. (NYSE:VEEV) by 1.6% in the 3rd quarter, Holdings Channel reports. The fund owned 109,731 shares of the technology company’s stock after selling 1,796 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Veeva Systems were worth $31,323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Apella Capital LLC grew its position in Veeva Systems by 15.1% during the 3rd quarter. Apella Capital LLC now owns 12,540 shares of the technology company’s stock worth $3,543,000 after purchasing an additional 1,646 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Veeva Systems by 11.1% in the third quarter. Avidian Wealth Enterprises LLC now owns 3,554 shares of the technology company’s stock worth $1,014,000 after buying an additional 354 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Veeva Systems in the third quarter worth $238,000. Quintet Private Bank Europe S.A. grew its holdings in shares of Veeva Systems by 25.2% during the third quarter. Quintet Private Bank Europe S.A. now owns 2,576 shares of the technology company’s stock valued at $735,000 after buying an additional 518 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its holdings in shares of Veeva Systems by 24.1% during the third quarter. Toth Financial Advisory Corp now owns 335 shares of the technology company’s stock valued at $96,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 36,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the transaction, the insider owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. This represents a 64.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 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 completion of the transaction, the executive vice president directly owned 7,665 shares in the company, valued at $2,119,449.15. The trade was 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 51,591 shares of company stock valued at $13,355,945 over the last three months. 10.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on VEEV. UBS Group increased their price objective on Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Needham & Company LLC lifted their target price on Veeva Systems from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Robert W. Baird upped their target price on Veeva Systems from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Wall Street Zen lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Saturday, September 26th. Finally, Jefferies Financial Group restated a “buy” rating and set a $295.00 price target on shares of Veeva Systems in a report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $284.88.

Veeva Systems Price Performance

VEEV traded up $2.28 during midday trading on Thursday, hitting $284.78. 921,680 shares of the company’s stock traded hands, compared to its average volume of 2,342,119. The company has a market cap of $46.11 billion, a PE ratio of 46.84, a price-to-earnings-growth ratio of 1.21 and a beta of 0.93. The stock’s fifty day simple moving average is $259.17 and its 200-day simple moving average is $202.93. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $303.39.

Veeva Systems (NYSE:VEEV) last announced 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 net margin of 29.34% and a return on equity of 14.25%. Veeva Systems’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.99 EPS. 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, research analysts expect that Veeva Systems Inc. will post 6.7 EPS for the current year.

More Veeva Systems News

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

• Positive Sentiment: Veeva Basics adoption is expanding. More than 175 emerging biotechs are using the preconfigured platform across clinical, regulatory, quality, medical, and commercial operations. The announcement supports Veeva’s ability to win customers early and expand them as they advance toward commercialization. Emerging Biotechs Standardize on Veeva Basics to Accelerate Drug Development
• Positive Sentiment: Clinical-data automation is showing meaningful scale. Veeva says its Development Quality Solution has cleaned data for more than 1 million clinical-trial subjects across over 1,000 studies, highlighting customer usage and the potential for automation to improve retention and cross-selling. Veeva’s DQS Scales Data Automation Across 1,000+ Clinical Studies
• Positive Sentiment: Management is highlighting continued platform momentum. CEO Peter Gassner said nearly 200 customers are using Veeva Basics, while the upcoming R&D and Quality Summit will showcase AI tools and customer use cases involving Eli Lilly, Pfizer, Sanofi, UCB, and others. The event may reinforce Veeva’s positioning as an important software provider for modern drug development. Veeva Summit to Showcase AI Innovations
• Positive Sentiment: Technical momentum remains strong. Market commentary says VEEV is nearing several buy points as institutional money returns to software companies with sticky enterprise customers. Veeva’s entrenched position in pharma data and workflows is viewed as a potential AI-era advantage. Software Leader Veeva Systems Positioned To Hit Buy Points After Nearly Doubling

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.

The company’s product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.

Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.