D.A. Davidson & CO. Lowers Stake in Veeva Systems Inc. $VEEV

Key Points

• D.A. Davidson & CO. sharply reduced its Veeva Systems stake by 74.3% in the first quarter, selling 6,497 shares and leaving it with 2,245 shares valued at about $394,000.
• Veeva continues to see mixed but mostly positive analyst sentiment: several firms reaffirmed or raised ratings, while UBS and Stifel cut price targets; overall, the stock carries a Moderate Buy consensus with an average target price of $247.08.
• The company’s latest earnings beat expectations, with $2.24 EPS and $882.95 million in revenue, both above estimates, while revenue rose 16.3% year over year.

D.A. Davidson & CO. cut its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 74.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,245 shares of the technology company's stock after selling 6,497 shares during the period. D.A. Davidson & CO.'s holdings in Veeva Systems were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its position in Veeva Systems by 11.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company's stock valued at $199,137,000 after purchasing an additional 90,703 shares during the period. Empire Life Investments Inc. boosted its holdings in shares of Veeva Systems by 21.1% in the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company's stock worth $8,272,000 after purchasing an additional 6,453 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Veeva Systems by 217.2% in the 4th quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company's stock worth $2,337,000 after purchasing an additional 7,169 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Veeva Systems by 14.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company's stock valued at $247,817,000 after purchasing an additional 137,965 shares during the last quarter. Finally, KBC Group NV lifted its position in Veeva Systems by 180.2% in the fourth quarter. KBC Group NV now owns 201,140 shares of the technology company's stock worth $44,900,000 after buying an additional 129,346 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on VEEV shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $275.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Needham & Company LLC restated a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. UBS Group dropped their price target on shares of Veeva Systems from $220.00 to $190.00 and set a "neutral" rating for the company in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of Veeva Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, July 10th. Finally, Stifel Nicolaus reduced their price objective on shares of Veeva Systems from $245.00 to $230.00 and set a "buy" rating on the stock in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and an average target price of $247.08.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company's stock.

Trending Headlines about Veeva Systems

• Veeva Systems NYSE: VEEV Stock a Buy: Cloud Software for Life Sciences

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

• Positive Sentiment: Guggenheim upgraded Veeva Systems to strong-buy and later set a $232 price target, implying meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: Investor interest is being supported by articles highlighting Veeva as a cash-heavy stock with financial stability, which may appeal to defensive growth investors. Yahoo Finance
• Positive Sentiment: Recent commentary points to steady execution and attractive P/E multiples, reinforcing the view that Veeva’s fundamentals remain solid ahead of its next earnings report. Seeking Alpha
• Neutral Sentiment: Several recent articles focus on what to expect from Veeva’s next earnings release and broader analyst sentiment, suggesting the stock may remain sensitive to upcoming guidance and results. MSN
• Negative Sentiment: The stock had recently declined more than the broader market, reminding investors that near-term volatility remains a risk despite the positive analyst coverage. Yahoo Finance

Veeva Systems Price Performance

Shares of VEEV opened at $186.06 on Friday. The company's fifty day moving average price is $174.59 and its 200-day moving average price is $181.60. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The firm has a market capitalization of $30.22 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.10. The company had revenue of $882.95 million during the quarter, compared to analysts' expectations of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.97 EPS. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. As a group, research analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Veeva Systems 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.

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