12,891 Veeva Systems Inc. $VEEV Shares Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6,820.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,080 shares of the technology company's stock after buying an additional 12,891 shares during the period. Fulcrum Asset Management LLP's holdings in Veeva Systems were worth $3,644,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of VEEV. Farmers & Merchants Investments Inc. raised its position in shares of Veeva Systems by 181.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company's stock worth $27,000 after acquiring an additional 60 shares during the last quarter. Burkett Financial Services LLC bought a new position in Veeva Systems in the third quarter valued at about $27,000. Pension & Wealth Management Advisors Inc. bought a new position in Veeva Systems in the third quarter valued at about $38,000. Lodestone Wealth Management LLC increased its position in 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 purchasing an additional 56 shares during the period. Finally, Compass Financial Management LLC acquired a new stake in Veeva Systems in the second quarter worth about $27,000. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 10,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Rizzo sold 4,841 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following 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 position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 56,789 shares of company stock valued at $14,913,889. Insiders own 10.60% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Veeva Systems from $175.00 to $270.00 and gave the stock a "market perform" rating in a report on Thursday, August 27th. Weiss Ratings raised shares of Veeva Systems from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Evercore lifted their price target on shares of Veeva Systems from $185.00 to $250.00 in a research report on Thursday, October 8th. UBS Group boosted their price target on shares of Veeva Systems from $290.00 to $325.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $272.00 to $299.00 in a report on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $314.50.

Veeva Systems Stock Up 0.9%

Shares of Veeva Systems stock opened at $306.50 on Tuesday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $325.99. The business has a fifty day simple moving average of $289.83 and a 200 day simple moving average of $212.38. The stock has a market cap of $49.63 billion, a PE ratio of 50.18, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The firm had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. During the same quarter in the prior year, the firm posted $1.99 earnings per share. The company's quarterly revenue was up 17.6% on a year-over-year basis. 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. Analysts expect that Veeva Systems Inc. will post 6.70 EPS for the current fiscal year.

Trending Headlines about 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

About Veeva Systems

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.

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