Verdence Capital Advisors LLC Reduces Stock Position in Veeva Systems Inc. $VEEV

Verdence Capital Advisors LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,260 shares of the technology company’s stock after selling 218 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Veeva Systems were worth $1,227,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new position in shares of Veeva Systems during the second quarter worth about $29,000. Abound Financial LLC purchased a new position in shares of Veeva Systems during the first quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Veeva Systems during the second quarter worth about $32,000. ORG Partners LLC purchased a new position in shares of Veeva Systems during the first quarter worth about $26,000. Finally, Maseco LLP purchased a new position in shares of Veeva Systems during the second quarter worth about $35,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity

In other news, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction that occurred 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 completion of the sale, the insider directly owned 23,773 shares in the company, valued at approximately $7,132,850.92. This trade represents a 12.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the sale, the insider owned 25,325 shares of the company’s stock, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,665 shares of company stock worth $7,438,000. Company insiders own 10.30% of the company’s stock.

Veeva Systems Stock Down 0.0%

Shares of NYSE:VEEV opened at $286.54 on Tuesday. The company has a market cap of $46.97 billion, a P/E ratio of 58.84, a PEG ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a 52 week low of $201.54 and a 52 week high of $310.50. The company has a 50-day moving average price of $282.93 and a 200 day moving average price of $265.62.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Needham & Company LLC raised their price objective on Veeva Systems from $300.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Morgan Stanley increased their target price on shares of Veeva Systems from $210.00 to $222.00 and gave the stock an “underweight” rating in a research note on Thursday, August 28th. TD Cowen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $297.00 to $380.00 in a research note on Tuesday, October 7th. UBS Group increased their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Finally, Citigroup increased their target price on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $307.58.

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.