Collaborative Fund Advisors LLC Makes New $514,000 Investment in Veeva Systems Inc. $VEEV

Collaborative Fund Advisors LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 1,801 shares of the technology company’s stock, valued at approximately $514,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Chicago Partners Investment Group LLC increased its position in Veeva Systems by 0.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,972 shares of the technology company’s stock valued at $1,929,000 after buying an additional 55 shares in the last quarter. Ascent Group LLC acquired a new position in Veeva Systems during the 3rd quarter worth approximately $232,000. MH & Associates Securities Management Corp ADV bought a new stake in shares of Veeva Systems during the third quarter valued at approximately $3,130,000. Rakuten Investment Management Inc. increased its holdings in shares of Veeva Systems by 8.5% during the third quarter. Rakuten Investment Management Inc. now owns 26,793 shares of the technology company’s stock valued at $7,464,000 after acquiring an additional 2,096 shares in the last quarter. Finally, Provenance Wealth Advisors LLC grew its position in Veeva Systems by 2,192.0% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 573 shares of the technology company’s stock valued at $164,000 after purchasing an additional 548 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Up 2.5%

Veeva Systems stock opened at $310.79 on Thursday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $325.99. The company’s 50 day moving average price is $287.53 and its two-hundred day moving average price is $211.07. The stock has a market cap of $50.32 billion, a P/E ratio of 51.12, a P/E/G ratio of 1.29 and a beta of 0.89.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. Veeva Systems’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.99 earnings per share. 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 anticipate that Veeva Systems Inc. will post 6.70 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $330.00 price objective on shares of Veeva Systems in a research note on Tuesday, September 8th. Morgan Stanley upped their target price on shares of Veeva Systems from $215.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Canaccord Genuity Group raised their price target on shares of Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 27th. Robert W. Baird raised their price target on shares of Veeva Systems from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, October 26th. Finally, Truist Financial boosted their price objective on Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” 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 assigned a Sell rating to the company. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $293.21.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 5,198 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was 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 directly owned 4,130 shares of the company’s stock, valued at $1,237,843.60. This trade represents a 55.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel Rizzo sold 4,841 shares of Veeva Systems stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $276.51, for a total value of $1,338,584.91. Following the sale, the executive vice president owned 7,665 shares in the company, valued at $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 56,789 shares of company stock worth $14,913,889 over the last 90 days. Company insiders own 10.60% of the company’s stock.

About Veeva Systems

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.