Engineers Gate Manager LP Lowers Position in Veeva Systems Inc. $VEEV

Key Points

• Engineers Gate Manager LP cut its Veeva Systems position by 68.1% in the second quarter, selling 25,599 shares and retaining 12,010 shares valued at approximately $2.13 million. Institutional investors collectively own 88.2% of Veeva’s stock.
• Analyst sentiment remains positive, with 19 Buy ratings, eight Holds and one Sell rating. The consensus rating is “Moderate Buy,” with an average price target of $284.88.
• Veeva reported quarterly earnings of $2.35 per share and revenue of $927.96 million, exceeding analyst expectations; revenue increased 17.6% year over year. Shares opened at $266.12, while insiders sold 46,750 shares worth about $12.0 million over the prior 90 days.

Engineers Gate Manager LP trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 68.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,010 shares of the technology company's stock after selling 25,599 shares during the quarter. Engineers Gate Manager LP's holdings in Veeva Systems were worth $2,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of VEEV. Main Management ETF Advisors LLC boosted its stake in Veeva Systems by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company's stock worth $1,224,000 after buying an additional 56 shares during the period. Root Financial Partners LLC increased its position in shares of Veeva Systems by 17.1% during the fourth quarter. Root Financial Partners LLC now owns 383 shares of the technology company's stock valued at $85,000 after acquiring an additional 56 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of Veeva Systems by 8.4% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 776 shares of the technology company's stock valued at $173,000 after acquiring an additional 60 shares during the period. Wormser Freres Gestion raised its stake in shares of Veeva Systems by 48.8% in the 4th quarter. Wormser Freres Gestion now owns 186 shares of the technology company's stock valued at $42,000 after acquiring an additional 61 shares during the period. Finally, Argos Wealth Advisors LLC lifted its holdings in shares of Veeva Systems by 3.9% in the 1st quarter. Argos Wealth Advisors LLC now owns 1,720 shares of the technology company's stock worth $302,000 after acquiring an additional 65 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 research firms recently weighed in on VEEV. Evercore reaffirmed an "outperform" rating and set a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Piper Sandler boosted their target price on Veeva Systems from $295.00 to $320.00 and gave the company an "overweight" rating in a research report on Thursday, August 27th. Barclays upped their price target on Veeva Systems from $275.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Weiss Ratings raised Veeva Systems from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. Finally, Truist Financial boosted their price objective on Veeva Systems from $262.00 to $305.00 and gave the company a "buy" 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $284.88.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the sale, the director owned 3,242 shares of the company's stock, valued at $846,291.68. This trade represents a 18.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the insider owned 19,449 shares of the company's stock, valued at $5,471,587.17. This represents a 33.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 46,750 shares of company stock worth $12,017,360 in the last ninety days. 10.60% of the stock is owned by corporate insiders.

Veeva Systems Stock Up 0.2%

Veeva Systems stock opened at $266.12 on Wednesday. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The firm has a market cap of $43.09 billion, a PE ratio of 43.77, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97. The company's 50 day moving average is $231.45 and its two-hundred day moving average is $192.34.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company's quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.99 earnings per share. 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. On average, equities research analysts anticipate that Veeva Systems Inc. will post 6.7 earnings per share for the current fiscal year.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company's Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.

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