Veeva Systems Inc. $VEEV Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 73.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,500 shares of the technology company’s stock after selling 4,121 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Veeva Systems were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Czech National Bank purchased a new position in shares of Veeva Systems during the second quarter valued at approximately $7,584,000. Vulcan Value Partners LLC purchased a new stake in Veeva Systems in the second quarter worth $3,769,000. East Coast Asset Management LLC. purchased a new stake in Veeva Systems in the first quarter worth $1,665,000. Westwind Capital bought a new stake in Veeva Systems in the third quarter valued at $1,684,000. Finally, First Citizens Bank & Trust Co. bought a new stake in Veeva Systems in the third quarter valued at $1,179,000. 88.20% of the stock is currently owned by institutional investors.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas Schwenger sold 10,000 shares of the business’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 directly owned 19,449 shares in the company, valued at approximately $5,471,587.17. The trade was a 33.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel Rizzo sold 4,841 shares of the stock in a transaction 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 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 56,789 shares of company stock worth $14,913,889. Company insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the subject of several research analyst reports. UBS Group raised their target price on shares of Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Canaccord Genuity Group boosted their price target on shares of Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 27th. Wells Fargo & Company reissued an “overweight” rating and issued a $330.00 price target on shares of Veeva Systems in a research note on Tuesday, September 8th. Finally, Citigroup raised their price objective on shares of Veeva Systems from $190.00 to $273.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $293.21.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $313.04 on Friday. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $325.99. The company has a market cap of $50.68 billion, a P/E ratio of 51.49, a PEG ratio of 1.32 and a beta of 0.93. The stock’s fifty day moving average price is $283.97 and its 200-day moving average price is $209.79.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. During the same quarter in the prior year, the business earned $1.99 EPS. The business’s revenue for the quarter 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 anticipate that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

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.