Connor Clark & Lunn Investment Management Ltd. Buys Shares of 29,584 Veeva Systems Inc. $VEEV

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,584 shares of the technology company’s stock, valued at approximately $8,520,000.

A number of other hedge funds also recently modified their holdings of VEEV. Mutual of America Capital Management LLC increased its stake in Veeva Systems by 13.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 3,577 shares of the technology company’s stock worth $829,000 after purchasing an additional 433 shares in the last quarter. CWM LLC boosted its holdings in shares of Veeva Systems by 8.3% in the first quarter. CWM LLC now owns 8,785 shares of the technology company’s stock valued at $2,035,000 after buying an additional 676 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Veeva Systems during the first quarter worth $4,563,000. Signaturefd LLC raised its holdings in shares of Veeva Systems by 22.1% during the first quarter. Signaturefd LLC now owns 1,507 shares of the technology company’s stock worth $349,000 after acquiring an additional 273 shares during the period. Finally, Dakota Wealth Management lifted its position in Veeva Systems by 5.6% in the 1st quarter. Dakota Wealth Management now owns 7,391 shares of the technology company’s stock valued at $1,712,000 after acquiring an additional 393 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 3,350 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total value of $1,005,134.00. Following the sale, the insider directly owned 23,773 shares of the company’s stock, valued at approximately $7,132,850.92. This represents a 12.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 14,595 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the completion of the sale, the senior vice president owned 8,588 shares of the company’s stock, valued at $2,576,400. This trade represents a 62.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,665 shares of company stock worth $7,438,000 in the last ninety days. Insiders own 10.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $355.00 target price on shares of Veeva Systems in a report on Friday, October 17th. Oppenheimer reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Veeva Systems in a research report on Thursday, August 28th. Raymond James Financial reissued an “outperform” rating and issued a $340.00 target price (up previously from $310.00) on shares of Veeva Systems in a research report on Thursday, August 28th. Canaccord Genuity Group boosted their target price on Veeva Systems from $270.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Finally, Morgan Stanley upped their price target on Veeva Systems from $210.00 to $222.00 and gave the stock an “underweight” rating in a research report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.58.

Veeva Systems Trading Down 0.7%

NYSE VEEV opened at $297.11 on Thursday. The company has a market cap of $48.70 billion, a PE ratio of 61.01, a PEG ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a 12 month low of $201.54 and a 12 month high of $310.50. The stock has a 50 day moving average of $288.05 and a 200-day moving average of $276.78.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 27th. The technology company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.64). Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The firm had revenue of $789.08 million for the quarter, compared to analyst estimates of $768.49 million. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Veeva Systems’s quarterly revenue was up 16.7% on a year-over-year basis. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, sell-side analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.