Patten Group Inc. Acquires 603 Shares of Veeva Systems Inc. $VEEV

Patten Group Inc. boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 9.4% in the second quarter, Holdings Channel reports. The firm owned 7,010 shares of the technology company’s stock after purchasing an additional 603 shares during the quarter. Patten Group Inc.’s holdings in Veeva Systems were worth $2,019,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in VEEV. GAMMA Investing LLC grew its position in Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock valued at $422,000 after purchasing an additional 221 shares in the last quarter. ORG Partners LLC bought a new position in Veeva Systems in the first quarter valued at $26,000. Kentucky Retirement Systems bought a new position in Veeva Systems in the first quarter valued at $2,333,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Veeva Systems in the first quarter valued at $993,000. Finally, Flagship Harbor Advisors LLC grew its position in Veeva Systems by 19.0% in the first quarter. Flagship Harbor Advisors LLC now owns 2,289 shares of the technology company’s stock valued at $530,000 after purchasing an additional 366 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 1.4%

Shares of Veeva Systems stock opened at $289.95 on Wednesday. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The company has a 50-day simple moving average of $283.91 and a two-hundred day simple moving average of $267.99. The stock has a market capitalization of $47.53 billion, a price-to-earnings ratio of 59.54, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98.

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

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, 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 value of $4,378,500.00. Following the transaction, the senior vice president directly owned 8,588 shares of the company’s stock, valued at $2,576,400. This trade represents a 62.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 25,325 shares in the company, valued at approximately $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,665 shares of company stock valued at $7,438,000 in the last ninety days. 10.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

VEEV has been the subject of a number of analyst reports. Barclays raised their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Raymond James Financial restated an “outperform” rating and set a $340.00 target price (up previously from $310.00) on shares of Veeva Systems in a research note on Thursday, August 28th. Truist Financial raised their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. Stifel Nicolaus raised their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Morgan Stanley raised 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. Seventeen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.58.

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.