Azimuth Capital Investment Management LLC Sells 10,227 Shares of Veeva Systems Inc. $VEEV

Key Points

• Azimuth Capital cut its Veeva Systems stake by 22.5% in the second quarter, selling 10,227 shares and retaining 35,177 shares valued at approximately $6.24 million.
• Veeva reported strong quarterly results, with revenue rising 17.6% year over year to $927.96 million and EPS of $2.35, exceeding analyst expectations.
• Institutional investors own 88.2% of Veeva’s shares, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $284.46.

Azimuth Capital Investment Management LLC decreased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 22.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 35,177 shares of the technology company's stock after selling 10,227 shares during the period. Azimuth Capital Investment Management LLC's holdings in Veeva Systems were worth $6,243,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company's stock valued at $727,513,000 after buying an additional 271,252 shares during the period. State Street Corp increased its position in shares of Veeva Systems by 2.4% in the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company's stock valued at $801,267,000 after acquiring an additional 85,695 shares during the period. Geode Capital Management LLC increased its position in shares of Veeva Systems by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company's stock valued at $706,442,000 after acquiring an additional 23,117 shares during the period. AQR Capital Management LLC raised its stake in shares of Veeva Systems by 31.2% during the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock valued at $706,078,000 after acquiring an additional 574,164 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Veeva Systems by 12.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company's stock valued at $385,761,000 after acquiring an additional 189,093 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Down 0.4%

VEEV opened at $274.02 on Monday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The stock has a market cap of $44.37 billion, a PE ratio of 45.07, a PEG ratio of 1.17 and a beta of 0.97. The business has a 50 day moving average of $220.49 and a 200-day moving average of $188.04.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS 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 business had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same quarter last year, the firm posted $1.99 earnings per share. The company's revenue for the quarter 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. Equities analysts anticipate that Veeva Systems Inc. will post 6.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VEEV. Mizuho raised their target price on Veeva Systems from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Wells Fargo & Company upped their price target on Veeva Systems from $317.00 to $320.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Needham & Company LLC increased their price objective on Veeva Systems from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. TD Cowen lifted their price objective on Veeva Systems from $235.00 to $283.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Finally, Citigroup boosted their target price on Veeva Systems from $190.00 to $273.00 and gave the company a "neutral" rating in a research note on Friday, August 28th. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $284.46.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas Schwenger sold 36,000 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the completion of the transaction, the insider directly owned 19,449 shares in the company, valued at $4,866,723.27. This trade represents a 64.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

Trending Headlines about Veeva Systems

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Higher outlook and strong operating momentum: Veeva raised its fiscal 2027 outlook as Vault CRM migrations, research-and-development investment and Falcon AI adoption support revenue growth and expanding profitability. This follows a strong latest quarter, in which revenue increased 17.6% year over year to approximately $928 million and adjusted earnings exceeded analyst expectations. VEEV Raises FY27 Outlook as Vault CRM and AI Momentum Accelerate Fast
• Positive Sentiment: AI adoption is broadening: Regeneron and Biogen have adopted Veeva’s AI-powered Vault CRM suite globally. Veeva also introduced Falcon Safety, an agentic AI product designed for biopharmaceutical safety operations. These developments could deepen customer relationships and expand Veeva’s role in commercial and safety workflows. Why Is Veeva Systems Winning Big in AI For Biopharma?
• Positive Sentiment: Long-term investor support: Commentary highlights Veeva’s recurring-revenue model, Vault CRM migration opportunity and AI expansion as reasons the stock remains attractive for long-term growth investors. Investor Michael Burry has also reportedly remained bullish on Veeva while criticizing Snowflake’s valuation. Burry Remains Bullish on Veeva
• Neutral Sentiment: Valuation and competition remain important considerations: Analysts and portfolio commentary generally support holding VEEV, but warn that market saturation could limit future growth. With the stock trading at a premium earnings multiple after a substantial rally, investors may require continued execution and strong guidance upgrades. Reasons to Hold Veeva Systems Stock in Your Portfolio for Now
• Negative Sentiment: Insider selling may weigh modestly on sentiment: Veeva’s exiting president sold 10,000 shares for approximately $2.8 million, representing about 51% of the executive’s direct equity stake before the transaction. The sale does not establish a change in business fundamentals, but it can raise caution after the stock’s strong advance. Veeva’s Exiting President Sold $2.8 Million in Stock

Veeva Systems Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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