Veeva Systems (NYSE:VEEV) Insider Thomas Schwenger Sells 10,000 Shares

Veeva Systems Inc. (NYSE:VEEV) insider Thomas Schwenger sold 10,000 shares of the firm’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 directly owned 19,449 shares of the company’s stock, valued at $5,471,587.17. This trade represents a 33.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veeva Systems Stock Up 3.2%

Shares of NYSE:VEEV opened at $285.56 on Tuesday. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The stock’s 50 day moving average is $211.13 and its 200-day moving average is $185.08. The firm has a market capitalization of $46.39 billion, a price-to-earnings ratio of 46.97, a PEG ratio of 1.19 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last 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. Equities research analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BMO Capital Markets boosted 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 report on Thursday, August 27th. Mizuho raised their price target on shares of Veeva Systems from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Zacks Research downgraded Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. UBS Group boosted their price objective on Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Finally, The Goldman Sachs Group lowered their price objective on Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a research note on Thursday, June 4th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $284.46.

Hedge Funds Weigh In On Veeva Systems

A number of hedge funds and other institutional investors have recently modified their holdings of VEEV. Williams Jones Wealth Management LLC. increased its position in shares of Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock valued at $2,806,000 after acquiring an additional 40 shares during the last quarter. Rafferty Asset Management LLC grew its stake in Veeva Systems by 0.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock valued at $1,982,000 after purchasing an additional 51 shares during the period. Brown Brothers Harriman & Co. grew its stake in Veeva Systems by 8.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock valued at $214,000 after purchasing an additional 54 shares during the period. Main Management ETF Advisors LLC increased its position in shares of Veeva Systems by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company’s stock valued at $1,224,000 after purchasing an additional 56 shares during the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Veeva Systems by 17.1% during the 4th quarter. Root Financial Partners LLC now owns 383 shares of the technology company’s stock valued at $85,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

About Veeva Systems

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.