Veeva Systems Inc. $VEEV Stock Sold by Strategic Planning Group LLC

Strategic Planning Group LLC cut its position in Veeva Systems Inc. (NYSE:VEEV) by 47.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,082 shares of the technology company’s stock after selling 27,280 shares during the period. Strategic Planning Group LLC’s holdings in Veeva Systems were worth $8,587,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of VEEV. Czech National Bank bought a new position in Veeva Systems in the 2nd quarter valued at approximately $7,584,000. Vulcan Value Partners LLC bought a new stake in shares of Veeva Systems in the 2nd quarter valued at about $3,769,000. East Coast Asset Management LLC. acquired a new stake in shares of Veeva Systems in the first quarter valued at about $1,665,000. Westwind Capital acquired a new stake in shares of Veeva Systems in the third quarter valued at about $1,684,000. Finally, Rockland Trust Co. increased its stake in shares of Veeva Systems by 21.4% in the second quarter. Rockland Trust Co. now owns 173,760 shares of the technology company’s stock valued at $30,837,000 after buying an additional 30,678 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on VEEV. Weiss Ratings upgraded Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Stifel Nicolaus set a $300.00 price target on shares of Veeva Systems in a research report on Thursday, August 27th. Royal Bank Of Canada upped their target price on Veeva Systems from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Mizuho raised their price target on shares of Veeva Systems from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Finally, Robert W. Baird boosted their price objective on Veeva Systems from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $287.79.

Veeva Systems Stock Performance

Shares of VEEV opened at $322.96 on Friday. The firm has a market capitalization of $52.29 billion, a P/E ratio of 53.12, a P/E/G ratio of 1.37 and a beta of 0.93. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $325.99. The stock has a 50 day moving average price of $276.07 and a two-hundred day moving average price of $212.28.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The business had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same period in the prior year, the firm posted $1.99 EPS. Veeva Systems’s quarterly revenue was up 17.6% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. On average, equities analysts forecast that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Insider Activity

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the sale, the director directly owned 3,242 shares of the company’s stock, valued at approximately $846,291.68. This represents a 18.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 5,198 shares of the stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total transaction of $1,557,944.56. Following the completion of the sale, the senior vice president owned 4,130 shares of the company’s stock, valued at approximately $1,237,843.60. This trade represents a 55.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 56,789 shares of company stock valued at $14,913,889 over the last ninety days. Company insiders own 10.60% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.