1,242 Shares in Veeva Systems Inc. $VEEV Bought by Sagespring Wealth Partners LLC

Key Points

• Sagespring Wealth Partners LLC acquired 1,242 shares of Veeva Systems Inc. valued at approximately $358,000 during the second quarter, indicating growing institutional interest in the company.
• Veeva Systems reported $1.26 EPS for the quarter ending August 27th, falling short of the consensus estimate of $1.90, despite an annual revenue increase of 16.7%.
• Wall Street analysts have set a consensus price target of $307.58 for Veeva Systems, with the majority rating the stock as a Moderate Buy.

Sagespring Wealth Partners LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,242 shares of the technology company's stock, valued at approximately $358,000.

Several other hedge funds have also recently bought and sold shares of VEEV. TFB Advisors LLC boosted its position in shares of Veeva Systems by 1.2% during the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company's stock worth $831,000 after acquiring an additional 44 shares in the last quarter. Triangle Securities Wealth Management lifted its stake in Veeva Systems by 0.8% during the second quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company's stock worth $1,665,000 after purchasing an additional 45 shares during the last quarter. Marks Group Wealth Management Inc boosted its holdings in shares of Veeva Systems by 3.3% in the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company's stock valued at $331,000 after purchasing an additional 46 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of Veeva Systems by 7.6% in the 1st quarter. Harbour Investments Inc. now owns 789 shares of the technology company's stock valued at $183,000 after purchasing an additional 56 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Veeva Systems by 4.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company's stock valued at $356,000 after purchasing an additional 56 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Down 3.0%

Shares of VEEV stock opened at $283.96 on Friday. The business's 50-day moving average price is $283.44 and its 200-day moving average price is $266.73. Veeva Systems Inc. has a 12 month low of $201.54 and a 12 month high of $310.50. The firm has a market capitalization of $46.54 billion, a price-to-earnings ratio of 58.31, a PEG ratio of 2.26 and a beta of 0.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.64). Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm had revenue of $789.08 million during the quarter, compared to analyst estimates of $768.49 million. During the same period in the prior year, the company earned $1.62 EPS. The business's quarterly revenue was up 16.7% compared to the same quarter last year. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 6,000 shares of the company's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value of $1,839,720.00. Following the sale, the insider owned 25,325 shares in the company, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 3,350 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the transaction, the insider owned 23,773 shares of the company's stock, valued at $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,665 shares of company stock worth $7,438,000. Company insiders own 10.30% of the company's stock.

Wall Street Analyst Weigh In

VEEV has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Piper Sandler increased their target price on shares of Veeva Systems from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Raymond James Financial restated an "outperform" rating and issued a $340.00 price target (up from $310.00) on shares of Veeva Systems in a research note on Thursday, August 28th. William Blair reiterated an "outperform" rating on shares of Veeva Systems in a research report on Friday. Finally, Citigroup increased their price objective on shares of Veeva Systems from $329.00 to $349.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $307.58.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.

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