Allianz Asset Management GmbH Has $113.01 Million Position in Veeva Systems Inc. $VEEV

Key Points

• Allianz Asset Management GmbH reduced its stake in Veeva Systems by 7.0%, now owning 392,434 shares valued at $113.01 million.
• Insiders have recently sold a total of 24,665 shares of Veeva Systems stock, indicating a decrease in their ownership and signaling potential insider selling trends.
• Analysts have given Veeva Systems a consensus rating of "Moderate Buy" with an average price target of $307.58, reflecting optimism about the company's performance in the tech sector.

Allianz Asset Management GmbH lessened its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 392,434 shares of the technology company's stock after selling 29,667 shares during the quarter. Allianz Asset Management GmbH owned 0.24% of Veeva Systems worth $113,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VEEV. GAMMA Investing LLC boosted its holdings in shares of Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after buying an additional 221 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Veeva Systems in the first quarter valued at approximately $5,876,000. Sowell Financial Services LLC acquired a new position in shares of Veeva Systems in the first quarter valued at approximately $274,000. QRG Capital Management Inc. boosted its holdings in shares of Veeva Systems by 6.1% in the first quarter. QRG Capital Management Inc. now owns 11,036 shares of the technology company's stock valued at $2,556,000 after buying an additional 634 shares during the period. Finally, Wolf Group Capital Advisors acquired a new position in shares of Veeva Systems in the first quarter valued at approximately $203,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $298.12, for a total transaction of $214,646.40. Following the sale, the senior vice president directly owned 7,868 shares of the company's stock, valued at approximately $2,345,608.16. This represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 3,350 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the sale, the insider directly owned 23,773 shares in the company, 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 three months, insiders have sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $340.00 price target (up previously from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Morgan Stanley boosted their price objective on shares of Veeva Systems from $210.00 to $222.00 and gave the stock an "underweight" rating in a research report on Thursday, August 28th. Piper Sandler boosted their price objective on shares of Veeva Systems from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. BTIG Research boosted their price objective on shares of Veeva Systems from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Finally, Truist Financial boosted their price objective on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a "hold" rating in a research report on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $307.58.

Veeva Systems Trading Up 1.9%

NYSE VEEV opened at $292.71 on Friday. The firm's fifty day moving average price is $283.41 and its two-hundred day moving average price is $266.34. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50. The firm has a market capitalization of $47.98 billion, a P/E ratio of 60.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results 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 return on equity of 13.72% and a net margin of 27.29%.The firm had revenue of $789.08 million for the quarter, compared to the consensus estimate of $768.49 million. During the same period last year, the company posted $1.62 earnings per share. The business's 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, research analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems Company Profile

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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