Hartline Investment Corp Sells 990 Shares of Veeva Systems Inc. $VEEV

Key Points

• Hartline Investment Corp reduced its stake in Veeva Systems by 4.4%, now holding 21,691 shares worth approximately $6.25 million.
• Veeva Systems reported an earnings miss with $1.26 EPS for the quarter, below the consensus estimate of $1.90, but showed revenue growth of 16.7% year-over-year.
• Analysts have set a consensus price target of $307.58 for Veeva Systems, with a majority rating it as a Moderate Buy.

Hartline Investment Corp lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,691 shares of the technology company's stock after selling 990 shares during the quarter. Hartline Investment Corp's holdings in Veeva Systems were worth $6,247,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new position in shares of Veeva Systems during the second quarter valued at approximately $29,000. Abound Financial LLC bought a new position in shares of Veeva Systems during the first quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Veeva Systems during the second quarter valued at approximately $32,000. ORG Partners LLC purchased a new stake in Veeva Systems in the first quarter worth $26,000. Finally, Maseco LLP purchased a new stake in Veeva Systems in the second quarter worth $35,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Trading Down 3.0%

Veeva Systems stock opened at $283.96 on Friday. The business's fifty day simple moving average is $283.44 and its two-hundred day simple moving average is $266.73. Veeva Systems Inc. has a 12 month low of $201.54 and a 12 month high of $310.50. The company has a market capitalization of $46.54 billion, a price-to-earnings ratio of 58.31, a price-to-earnings-growth ratio of 2.26 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 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.64). Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The company had revenue of $789.08 million during the quarter, compared to the consensus estimate of $768.49 million. During the same period last year, the firm posted $1.62 earnings per share. The company's revenue was up 16.7% compared to the same quarter last year. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. On average, equities research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction 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 directly owned 23,773 shares of the company's stock, valued at $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the stock in a transaction on Monday, October 6th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

VEEV has been the topic of several recent research reports. William Blair reaffirmed an "outperform" rating on shares of Veeva Systems in a research note on Friday. Piper Sandler upped their price target on Veeva Systems from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Truist Financial upped their price target on Veeva Systems from $268.00 to $275.00 and gave the stock a "hold" rating in a research note on Thursday, August 28th. Canaccord Genuity Group upped their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "hold" rating in a research note on Thursday, August 28th. Finally, Stifel Nicolaus upped their price target on Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $307.58.

Veeva Systems Profile

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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