Liberty Capital Management Inc. Sells 4,007 Shares of Veeva Systems Inc. $VEEV

Key Points

• Liberty Capital Management cut its Veeva Systems stake by 35.9% in the third quarter, selling 4,007 shares and retaining 7,141 shares valued at about $2.04 million.
• Analysts remain broadly positive: Veeva has a consensus “Moderate Buy” rating and an average price target of $300.54; 19 analysts rate it Buy, eight Hold, and one Sell.
• Veeva beat quarterly earnings and revenue estimates, with EPS of $2.35 versus $2.23 expected and revenue up 17.6% year over year to $927.96 million.

Liberty Capital Management Inc. trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 35.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,141 shares of the technology company's stock after selling 4,007 shares during the period. Liberty Capital Management Inc.'s holdings in Veeva Systems were worth $2,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. raised its position in Veeva Systems by 181.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company's stock valued at $27,000 after purchasing an additional 60 shares during the period. Burkett Financial Services LLC purchased a new stake in shares of Veeva Systems in the third quarter worth about $27,000. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Veeva Systems in the third quarter worth about $38,000. Lodestone Wealth Management LLC boosted its position in shares of Veeva Systems by 68.3% in the third quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company's stock worth $39,000 after buying an additional 56 shares during the period. Finally, Compass Financial Management LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at about $27,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on VEEV shares. Guggenheim raised their target price on Veeva Systems from $276.00 to $310.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Needham & Company LLC upped their price target on Veeva Systems from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Raymond James Financial upped their price target on Veeva Systems from $225.00 to $330.00 in a report on Thursday, August 27th. TD Cowen increased their price objective on shares of Veeva Systems from $235.00 to $283.00 and gave the company a "buy" rating in a research report on Monday, August 24th. Finally, Royal Bank Of Canada lifted their price objective on shares of Veeva Systems from $275.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given 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 an average price target of $300.54.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the transaction, the director directly owned 3,242 shares of the company's stock, valued at $846,291.68. This trade represents a 18.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel J. Rizzo sold 4,841 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the completion of the sale, the executive vice president directly owned 7,665 shares of the company's stock, valued at $2,119,449.15. The trade was a 38.71% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 56,789 shares of company stock worth $14,913,889 in the last ninety days. 10.60% of the stock is currently owned by corporate insiders.

Veeva Systems Price Performance

NYSE:VEEV opened at $309.14 on Friday. The firm has a 50-day moving average of $288.82 and a two-hundred day moving average of $211.51. The stock has a market cap of $50.05 billion, a P/E ratio of 50.85, a PEG ratio of 1.33 and a beta of 0.89. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $325.99.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The business had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. During the same period in the previous year, the company earned $1.99 earnings per share. The company's revenue for the quarter was up 17.6% compared to the same quarter last year. 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. As a group, equities analysts expect that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

About Veeva Systems

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva's applications to manage commercial, clinical, regulatory, quality and operational processes.

The company's Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.

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