Veeva Systems Inc. $VEEV Stock: Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Position

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 764,479 shares of the technology company’s stock after selling 28,763 shares during the period. Veeva Systems accounts for approximately 2.1% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 14th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Veeva Systems were worth $218,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VEEV. Principal Financial Group Inc. lifted its holdings in Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares in the last quarter. Swedbank AB boosted its stake in Veeva Systems by 43.5% in the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock worth $288,983,000 after purchasing an additional 498,971 shares during the period. Pictet Asset Management Holding SA grew its holdings in Veeva Systems by 43.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock valued at $279,970,000 after buying an additional 483,720 shares in the last quarter. Amundi grew its holdings in Veeva Systems by 8.0% during the 1st quarter. Amundi now owns 992,977 shares of the technology company’s stock valued at $174,426,000 after buying an additional 73,510 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after buying an additional 611,868 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

Shares of VEEV opened at $323.31 on Monday. The firm has a market cap of $52.35 billion, a price-to-earnings ratio of 53.18, a PEG ratio of 1.38 and a beta of 0.93. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $325.99. The firm has a 50 day moving average price of $277.66 and a 200-day moving average price of $213.32.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. During the same quarter last year, the firm earned $1.99 EPS. The firm’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. As a group, equities research analysts predict that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Daniel J. Rizzo sold 4,841 shares of Veeva Systems 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 transaction, the executive vice president owned 7,665 shares in the company, valued at approximately $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Priscilla Hung sold 750 shares of the business’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 trade represents a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,789 shares of company stock valued at $14,913,889 over the last three months. 10.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. BMO Capital Markets increased their target price 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. Canaccord Genuity Group boosted 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. Needham & Company LLC upped their price target on shares of Veeva Systems from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Finally, Weiss Ratings upgraded Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Nineteen equities 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $287.79.

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.