D.A. Davidson & CO. Lowers Stock Position in Veeva Systems Inc. $VEEV

D.A. Davidson & CO. lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,226 shares of the technology company’s stock after selling 128 shares during the quarter. D.A. Davidson & CO.’s holdings in Veeva Systems were worth $2,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Veeva Systems in the 1st quarter worth about $365,684,000. Price T Rowe Associates Inc. MD raised its position in shares of Veeva Systems by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock worth $924,754,000 after purchasing an additional 689,700 shares during the last quarter. Linonia Partnership LP raised its position in shares of Veeva Systems by 52.7% in the 1st quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company’s stock worth $425,402,000 after purchasing an additional 633,585 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Veeva Systems by 48.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,799,931 shares of the technology company’s stock worth $416,918,000 after purchasing an additional 585,785 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Veeva Systems by 10.7% in the 1st quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock worth $1,273,884,000 after purchasing an additional 532,269 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.6%

Shares of NYSE:VEEV opened at $293.11 on Monday. The stock has a 50 day moving average of $284.70 and a 200 day moving average of $270.03. The company has a market cap of $48.04 billion, a PE ratio of 60.19, a price-to-earnings-growth ratio of 2.26 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.

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

Insiders Place Their Bets

In other news, insider Eleni Nitsa Zuppas sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 14,595 shares of the stock in a transaction that occurred on 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 owned 8,588 shares of the company’s stock, valued at $2,576,400. This represents a 62.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,665 shares of company stock worth $7,438,000 in the last three months. 10.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VEEV shares. UBS Group lifted their price target on Veeva Systems from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Citigroup lifted their price target on Veeva Systems from $329.00 to $349.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. BTIG Research reaffirmed a “buy” rating and issued a $340.00 price target on shares of Veeva Systems in a research report on Friday, October 17th. Piper Sandler boosted their target price on Veeva Systems from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Finally, Truist Financial boosted their target price on Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.58.

About Veeva Systems

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.