Chicago Partners Investment Group LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,263 shares of the technology company's stock, valued at approximately $361,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Nuveen LLC purchased a new position in Veeva Systems in the first quarter valued at $365,684,000. Price T Rowe Associates Inc. MD lifted its holdings in Veeva Systems by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock worth $924,754,000 after buying an additional 689,700 shares during the last quarter. Linonia Partnership LP lifted its holdings in Veeva Systems by 52.7% during the 1st quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company's stock worth $425,402,000 after buying an additional 633,585 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Veeva Systems by 48.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,799,931 shares of the technology company's stock worth $416,918,000 after buying an additional 585,785 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Veeva Systems by 10.7% during the 1st quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company's stock worth $1,273,884,000 after buying an additional 532,269 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on VEEV. Citigroup lifted their price target on Veeva Systems from $329.00 to $349.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. William Blair restated an "outperform" rating on shares of Veeva Systems in a research report on Friday, October 17th. Truist Financial boosted their price target on Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a research report on Thursday, August 28th. Barclays boosted their price target on Veeva Systems from $300.00 to $325.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Finally, UBS Group boosted their price target on Veeva Systems from $285.00 to $310.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Seventeen 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $307.58.
Check Out Our Latest Report on Veeva Systems
Veeva Systems Trading Up 0.6%
NYSE VEEV opened at $291.66 on Friday. The business's 50 day moving average is $284.44 and its two-hundred day moving average is $268.67. Veeva Systems Inc. has a 12-month low of $201.54 and a 12-month high of $310.50. The stock has a market capitalization of $47.81 billion, a price-to-earnings ratio of 59.89, a PEG ratio of 2.24 and a beta of 0.98.
Veeva Systems (NYSE:VEEV - Get Free Report) last released its 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). The business had revenue of $789.08 million for the quarter, compared to analyst estimates of $768.49 million. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The business's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. Equities analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.
Insider Transactions at Veeva Systems
In other news, insider Thomas D. Schwenger sold 3,350 shares of the business's stock in a transaction that occurred 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 owned 23,773 shares of the company's stock, valued at $7,132,850.92. The trade was a 12.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the business's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $298.12, for a total value of $214,646.40. Following the sale, the senior vice president directly owned 7,868 shares in the company, valued at $2,345,608.16. This trade represents a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,665 shares of company stock valued at $7,438,000 in the last quarter. 10.30% of the stock is currently owned by corporate insiders.
Veeva Systems Company Profile
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Free Report)
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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