HB Wealth Management LLC Sells 5,556 Shares of Veeva Systems Inc. $VEEV

Key Points

• HB Wealth Management LLC cut its Veeva Systems stake by 30.5% in the first quarter, selling 5,556 shares and leaving it with 12,653 shares valued at about $2.22 million.
• Insider activity also included Director Priscilla Hung selling 750 shares on April 30 at an average price of $155.64, a transaction worth $116,730.
• Veeva reported strong quarterly results, with EPS of $2.24 beating estimates and revenue rising 16.3% year over year to $882.95 million, while analysts maintain a Moderate Buy consensus and a $250.96 price target.

HB Wealth Management LLC decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 30.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,653 shares of the technology company's stock after selling 5,556 shares during the quarter. HB Wealth Management LLC's holdings in Veeva Systems were worth $2,223,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of VEEV. SHP Wealth Management bought a new stake in shares of Veeva Systems in the 4th quarter worth about $26,000. Board of the Pension Protection Fund bought a new position in shares of Veeva Systems in the 4th quarter valued at about $27,000. Newbridge Financial Services Group Inc. grew its position in Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Activest Wealth Management grew its position in Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after acquiring an additional 127 shares in the last quarter. Finally, MV Capital Management Inc. bought a new stake in Veeva Systems during the fourth quarter worth approximately $30,000. Institutional investors own 88.20% of the company's stock.

Insiders Place Their Bets

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. 10.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VEEV shares. Stifel Nicolaus lowered their price objective on Veeva Systems from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, June 4th. Barclays cut their target price on Veeva Systems from $250.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday, June 4th. Raymond James Financial restated an "outperform" rating and set a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, BNP Paribas Exane reaffirmed an "outperform" rating and set a $285.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $250.96.

Veeva Systems Stock Performance

VEEV opened at $191.98 on Tuesday. The stock has a market cap of $31.19 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 0.83 and a beta of 0.94. The stock's 50 day moving average price is $165.52 and its 200-day moving average price is $184.58. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same period in the prior year, the business posted $1.97 earnings per share. The company's revenue for the quarter was up 16.3% on a year-over-year basis. 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, analysts predict that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.

Veeva Systems Company 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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