Curated Wealth Partners LLC Sells 3,291 Shares of Veeva Systems Inc. $VEEV

Key Points

• Curated Wealth Partners reduced its Veeva Systems stake by 45.6% in the third quarter, selling 3,291 shares and retaining 3,924 shares worth approximately $1.12 million. Institutional investors collectively own 88.2% of Veeva’s stock.
• Analyst sentiment remains bullish: Veeva has a “Moderate Buy” consensus rating, with 19 Buy, eight Hold, and one Sell rating and an average price target of $285.92.
• Veeva reported quarterly earnings and revenue above expectations, with revenue rising 17.6% year over year to $927.96 million. The stock recently traded near its 52-week high at $311.53, while insiders sold $13.36 million of shares during the last quarter.

Curated Wealth Partners LLC cut its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 45.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,924 shares of the technology company's stock after selling 3,291 shares during the period. Curated Wealth Partners LLC's holdings in Veeva Systems were worth $1,120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of VEEV. Lodestone Wealth Management LLC grew its holdings in Veeva Systems by 68.3% during the 3rd quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company's stock valued at $39,000 after buying an additional 56 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in shares of Veeva Systems by 1.2% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,664 shares of the technology company's stock valued at $1,331,000 after buying an additional 57 shares during the period. Argos Wealth Advisors LLC increased its position in shares of Veeva Systems by 3.9% during the first quarter. Argos Wealth Advisors LLC now owns 1,720 shares of the technology company's stock valued at $302,000 after buying an additional 65 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of Veeva Systems by 24.1% in the third quarter. Toth Financial Advisory Corp now owns 335 shares of the technology company's stock worth $96,000 after buying an additional 65 shares in the last quarter. Finally, Cim LLC lifted its holdings in shares of Veeva Systems by 1.2% in the first quarter. Cim LLC now owns 5,778 shares of the technology company's stock worth $1,015,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on VEEV. Mizuho raised their price objective on shares of Veeva Systems from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $330.00 target price on shares of Veeva Systems in a report on Tuesday, September 8th. Barclays increased their target price on shares of Veeva Systems from $275.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Needham & Company LLC increased their target price on shares of Veeva Systems from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Finally, Royal Bank Of Canada raised their price target on shares of Veeva Systems from $275.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average target price of $285.92.

More Veeva Systems News

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

• Positive Sentiment: Expanded IQVIA agreement strengthens Veeva’s market position. IQVIA plans to make Veeva’s Clinical Trial Management System, electronic Trial Master File, Study Startup, and Site Connect products enterprise standards across its global research operations. The agreement expands an existing relationship and could increase recurring revenue, workflow integration, and customer reach. Veeva Systems Becomes Default Clinical Software Across a Major Research Partner
• Positive Sentiment: Adoption among emerging biotechs is broadening. More than 175 emerging biotechnology companies are reportedly using Veeva Basics, supporting the company’s strategy of building early relationships that may develop into larger, long-term customers as these firms advance their drug pipelines. Veeva Systems’ Basics Gains Traction With 175+ Emerging Biotech Firms
• Positive Sentiment: Analyst sentiment remains supportive. Oppenheimer maintained a $325 price target, while Zacks highlighted a favorable average brokerage recommendation. The target is only modestly above recent trading levels, and Zacks cautioned that sell-side recommendations can be overly optimistic, but the coverage is helping reinforce the bullish narrative. Oppenheimer Keeps USD 325 Target for Veeva Systems Stock
• Positive Sentiment: Technical momentum has attracted institutional interest. The stock broke above a reported buy point as investors sought exposure to Veeva’s cloud and AI-related software opportunity, adding momentum to the recent advance. Veeva Stock Breaks Out as Big Money Grabs Exposure to the AI Software Play
• Neutral Sentiment: Veeva will host a virtual investor day on November 5, which could provide updates on strategy, growth opportunities, and financial targets. Broader life-sciences IT market growth also provides a favorable backdrop, although neither item changes current earnings expectations. Veeva to Host Virtual Investor Day

Insider Buying and Selling

In other Veeva Systems news, EVP Daniel J. Rizzo sold 4,841 shares of the 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 directly owned 7,665 shares in the company, valued at $2,119,449.15. This trade represents a 38.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Thomas D. Schwenger sold 10,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the transaction, the insider directly owned 19,449 shares in the company, valued at $5,471,587.17. This trade represents a 33.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 51,591 shares of company stock worth $13,355,945 in the last quarter. 10.60% of the stock is owned by insiders.

Veeva Systems Stock Up 4.8%

NYSE:VEEV traded up $14.18 during midday trading on Thursday, hitting $311.53. The company had a trading volume of 1,323,190 shares, compared to its average volume of 2,321,903. The company has a market capitalization of $50.44 billion, a PE ratio of 51.34, a P/E/G ratio of 1.29 and a beta of 0.93. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $313.52. The stock's fifty day moving average price is $266.28 and its 200-day moving average price is $206.24.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter last year, the business 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. As a group, research analysts forecast that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

About Veeva Systems

Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.

The company's product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.

Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV - Free Report).

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.