4,211 Veeva Systems Inc. $VEEV Shares Bought by Nemes Rush Group LLC

Nemes Rush Group LLC boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 32,392.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,224 shares of the technology company’s stock after purchasing an additional 4,211 shares during the period. Nemes Rush Group LLC’s holdings in Veeva Systems were worth $1,206,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. increased its holdings in shares of Veeva Systems by 181.8% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock worth $27,000 after buying an additional 60 shares during the last quarter. Burkett Financial Services LLC acquired a new position in Veeva Systems in the third quarter valued at $27,000. Pension & Wealth Management Advisors Inc. acquired a new position in Veeva Systems in the third quarter valued at $38,000. Lodestone Wealth Management LLC boosted its holdings in Veeva Systems by 68.3% in the third quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock valued at $39,000 after acquiring an additional 56 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new stake in Veeva Systems during the second quarter valued at about $27,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In related news, EVP Daniel J. Rizzo sold 4,841 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 7,665 shares of the company’s stock, valued at approximately $2,119,449.15. This represents a 38.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 value of $1,557,944.56. Following the completion of the transaction, the senior vice president directly owned 4,130 shares of the company’s stock, valued at $1,237,843.60. This 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. In the last quarter, insiders sold 56,789 shares of company stock valued at $14,913,889. Corporate insiders own 10.60% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $306.50 on Tuesday. The firm has a market capitalization of $49.63 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $325.99. The stock’s 50 day moving average price is $289.83 and its 200 day moving average price is $212.38.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Jefferies Financial Group upped their price target on Veeva Systems from $295.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup raised their price target on shares of Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Stifel Nicolaus set a $300.00 price target on shares of Veeva Systems in a research report on Thursday, August 27th. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Finally, BMO Capital Markets boosted their price objective on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a research note 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.50.

Key Stories Impacting Veeva Systems

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Several analysts raised their targets. Truist lifted its target to $360 from $305 and maintained a buy rating; BTIG raised its target to $360 from $340. Another report cited a $375 target, while Needham was also reported as expecting shares to rise. The higher targets signal improved potential upside in analysts’ views. Truist price-target report BTIG price-target report Report on $375 target Needham analyst report
• Neutral Sentiment: Canaccord raised its target but kept a hold rating. The firm increased its price target to $315 from $260, a more cautious stance than the bullish revisions and a target relatively close to the cited share price. Canaccord price-target report
• Neutral Sentiment: Veeva is retesting a technical buy point. IBD named the stock its “Stock of the Day” and noted it is pressing against resistance at its 21-day moving average, which could limit near-term momentum. The coverage also references a $6 billion view. IBD article on Veeva

Veeva Systems Company Profile

Veeva Systems Inc develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations.

The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.

Founded in 2007 and headquartered in Pleasanton, California, Veeva serves life sciences companies in markets around the world.