Jackson Thornton Wealth Management LLC Buys New Shares in Veeva Systems Inc. $VEEV

Key Points

• Jackson Thornton Wealth Management LLC acquired 996 shares of Veeva Systems Inc. valued at approximately $280,000 during the second quarter, as reported in their 13F filing.
• Recent analysis indicates a consensus of 17 buy ratings and a target price averaging $307.58 for Veeva Systems, despite some analysts providing lower price objectives.
• Company insiders sold a combined total of 24,665 shares valued at $7.4 million over the past three months, indicating a notable decrease in their ownership percentages.

Jackson Thornton Wealth Management LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 996 shares of the technology company's stock, valued at approximately $280,000.

A number of other institutional investors have also recently bought and sold shares of VEEV. GAMMA Investing LLC grew its holdings in Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after purchasing an additional 221 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Veeva Systems in the first quarter valued at approximately $5,876,000. ORG Partners LLC purchased a new stake in Veeva Systems during the first quarter worth approximately $26,000. Kentucky Retirement Systems purchased a new stake in Veeva Systems during the first quarter worth approximately $2,333,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Veeva Systems during the first quarter worth approximately $993,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on VEEV shares. William Blair reiterated an "outperform" rating on shares of Veeva Systems in a research note on Friday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Veeva Systems in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of Veeva Systems from $210.00 to $222.00 and gave the stock an "underweight" rating in a research note on Thursday, August 28th. Citigroup boosted their price objective on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Finally, Truist Financial boosted their price objective on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a "hold" 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $307.58.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction on Thursday, October 2nd. The shares were 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 approximately $7,132,850.92. This represents a 12.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the sale, the insider directly owned 25,325 shares in the company, valued at $7,765,151.50. This trade represents a 19.15% 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. Company insiders own 10.30% of the company's stock.

Veeva Systems Price Performance

VEEV opened at $285.79 on Tuesday. The stock has a market capitalization of $46.84 billion, a PE ratio of 58.68, a P/E/G ratio of 2.19 and a beta of 0.98. The firm's fifty day moving average price is $283.61 and its 200 day moving average price is $267.83. Veeva Systems Inc. has a 12-month low of $201.54 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The technology company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.64). The company had revenue of $789.08 million during the quarter, compared to analyst estimates of $768.49 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The company's revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 earnings per share. 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 forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

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.

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