Allspring Global Investments Holdings LLC Buys 3,156 Shares of Veeva Systems Inc. $VEEV

Key Points

• Allspring Global Investments increased its holdings in Veeva Systems by 4.0%, acquiring an additional 3,156 shares during the 2nd quarter, bringing its total to 82,405 shares valued at approximately $23.3 million.
• Multiple analysts have lifted their price targets for Veeva Systems, with BTIG Research raising it to $340 and JPMorgan upgrading the stock to "overweight" with a target of $330.
• Veeva Systems reported an EPS of $1.26 for its latest quarter, missing expectations, but showed a revenue increase of 16.7% compared to the same quarter last year.

Allspring Global Investments Holdings LLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,405 shares of the technology company's stock after buying an additional 3,156 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of Veeva Systems worth $23,312,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on VEEV shares. BTIG Research lifted their price objective on Veeva Systems from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Wells Fargo & Company lifted their target price on Veeva Systems from $300.00 to $326.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Piper Sandler lifted their target price on Veeva Systems from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. JPMorgan Chase & Co. upgraded Veeva Systems from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $290.00 to $330.00 in a report on Monday, September 8th. Finally, Morgan Stanley lifted their target price on Veeva Systems from $210.00 to $222.00 and gave the stock an "underweight" rating in a report on Thursday, August 28th. Sixteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and an average target price of $307.58.

Veeva Systems Stock Up 1.9%

NYSE VEEV opened at $292.71 on Friday. The company has a market cap of $47.98 billion, a price-to-earnings ratio of 60.10, a P/E/G ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a 52 week low of $201.54 and a 52 week high of $310.50. The business has a 50 day moving average price of $283.41 and a 200-day moving average price of $266.34.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.64). The firm had revenue of $789.08 million for the quarter, compared to the consensus estimate of $768.49 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The company's revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 EPS. 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, equities research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insider Activity

In other news, insider Eleni Nitsa Zuppas sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at $7,765,151.50. The trade was a 19.15% 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 business's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total value of $1,005,134.00. Following the sale, the insider owned 23,773 shares of the company's stock, valued at approximately $7,132,850.92. This represents a 12.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,665 shares of company stock worth $7,438,000 over the last quarter. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems 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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