Spyglass Capital Management LLC Sells 22,177 Shares of Veeva Systems Inc. $VEEV

Spyglass Capital Management LLC lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 205,120 shares of the technology company’s stock after selling 22,177 shares during the quarter. Veeva Systems comprises about 3.4% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Spyglass Capital Management LLC’s holdings in Veeva Systems were worth $59,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Trust Co. of Toledo NA OH bought a new position in shares of Veeva Systems in the second quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at about $32,000. Maseco LLP bought a new position in shares of Veeva Systems in the second quarter worth about $35,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Veeva Systems during the second quarter worth approximately $41,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Veeva Systems during the second quarter valued at approximately $68,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VEEV. Raymond James Financial restated an “outperform” rating and issued a $340.00 price objective (up previously from $310.00) on shares of Veeva Systems in a research report on Thursday, August 28th. UBS Group lowered their target price on Veeva Systems from $310.00 to $280.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $325.00 price target on shares of Veeva Systems in a research note on Thursday, August 28th. Citigroup decreased their price target on Veeva Systems from $349.00 to $319.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Finally, Weiss Ratings upgraded Veeva Systems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, November 24th. Twenty research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $305.88.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the transaction, the insider directly owned 23,773 shares of the company’s stock, valued at $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $298.12, for a total value of $214,646.40. Following the transaction, the senior vice president owned 7,868 shares in the company, valued at approximately $2,345,608.16. This represents a 8.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 24,665 shares of company stock worth $7,438,000. Company insiders own 10.30% of the company’s stock.

Veeva Systems Trading Down 0.2%

Shares of VEEV opened at $240.30 on Monday. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50. The stock has a market cap of $39.39 billion, a P/E ratio of 49.34, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98. The stock’s 50-day moving average price is $284.10 and its two-hundred day moving average price is $279.13.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. The company had revenue of $811.24 million during the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.Veeva Systems’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 EPS. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS. Q4 2026 guidance at 1.920-1.920 EPS. As a group, equities analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems Company 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.