Veeva Systems Inc. $VEEV Stock Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 29.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 588,849 shares of the technology company’s stock after selling 241,891 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Veeva Systems were worth $168,087,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Burkett Financial Services LLC bought a new position in Veeva Systems in the third quarter valued at about $27,000. SHP Wealth Management bought a new position in shares of Veeva Systems in the fourth quarter worth about $26,000. Pension & Wealth Management Advisors Inc. bought a new position in shares of Veeva Systems in the third quarter worth about $38,000. Lodestone Wealth Management LLC lifted its holdings in shares of Veeva Systems by 68.3% in the third quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock worth $39,000 after acquiring an additional 56 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $27,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VEEV has been the topic of several research reports. Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Guggenheim upped their price objective on shares of Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Needham & Company LLC increased their price objective on shares of Veeva Systems from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Citigroup increased their price objective on shares of Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Finally, Piper Sandler raised their target price 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. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $287.79.

Veeva Systems Stock Up 0.5%

NYSE VEEV opened at $320.20 on Thursday. The company has a market capitalization of $51.84 billion, a price-to-earnings ratio of 52.66, a PEG ratio of 1.36 and a beta of 0.93. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $322.99. The stock has a fifty day simple moving average of $274.67 and a 200 day simple moving average of $211.23.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.99 EPS. 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. Research analysts expect that Veeva Systems Inc. will post 6.70 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the transaction, the director directly owned 3,242 shares of the company’s stock, valued at $846,291.68. The trade was a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $281.33, for a total value of $2,813,300.00. Following the completion of the sale, the insider owned 19,449 shares in the company, valued at $5,471,587.17. The trade was a 33.96% decrease in their ownership of the stock. 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 ninety days, insiders sold 56,789 shares of company stock worth $14,913,889. Corporate 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.