Inspire Investing LLC Cuts Position in Veeva Systems Inc. $VEEV

Key Points

• Inspire Investing LLC reduced its position in Veeva Systems by 32.2%, holding 19,461 shares after selling 9,242 shares in Q2, valuing their stake at $5,604,000.
• Insider Eleni Nitsa Zuppas sold 6,000 shares for about $1.84 million, decreasing their ownership in Veeva Systems by 19.15%.
• Veeva Systems stock is currently trading at $287.04, down 3.8%, and has a market capitalization of $47.05 billion, with a notable miss in EPS compared to analyst expectations.

Inspire Investing LLC trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 32.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,461 shares of the technology company's stock after selling 9,242 shares during the quarter. Veeva Systems accounts for about 0.6% of Inspire Investing LLC's portfolio, making the stock its 25th largest position. Inspire Investing LLC's holdings in Veeva Systems were worth $5,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Veeva Systems by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company's stock worth $3,418,990,000 after buying an additional 315,421 shares during the last quarter. Alliancebernstein L.P. grew its stake in Veeva Systems by 10.7% during the 1st quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company's stock worth $1,273,884,000 after buying an additional 532,269 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Veeva Systems by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company's stock worth $1,205,372,000 after buying an additional 34,169 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Veeva Systems by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock worth $924,754,000 after buying an additional 689,700 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Veeva Systems by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,230,758 shares of the technology company's stock worth $748,341,000 after buying an additional 225,125 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veeva Systems

In other news, insider Eleni Nitsa Zuppas sold 6,000 shares of the company's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value of $1,839,720.00. Following the sale, the insider owned 25,325 shares in the company, valued at $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $298.12, for a total value of $214,646.40. Following the completion of the sale, the senior vice president owned 7,868 shares in the company, valued at $2,345,608.16. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,665 shares of company stock worth $7,438,000 over the last quarter. 10.30% of the stock is currently owned by insiders.

Veeva Systems Stock Down 3.8%

Shares of VEEV opened at $287.04 on Friday. Veeva Systems Inc. has a 52 week low of $201.54 and a 52 week high of $310.50. The company has a market capitalization of $47.05 billion, a price-to-earnings ratio of 58.94, a PEG ratio of 2.31 and a beta of 0.98. The stock's 50-day moving average price is $282.91 and its 200-day moving average price is $264.86.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, August 27th. The technology company reported $1.26 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $768.49 million. During the same quarter in the previous year, the company earned $1.62 EPS. The firm's quarterly 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. As a group, equities analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on VEEV shares. Wells Fargo & Company boosted their target price on Veeva Systems from $300.00 to $326.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Mizuho lifted their price target on Veeva Systems from $295.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Canaccord Genuity Group lifted their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "hold" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. raised Veeva Systems from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $290.00 to $330.00 in a research report on Monday, September 8th. Finally, Stifel Nicolaus lifted their price target on Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $307.58.

About Veeva Systems

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.