Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Buys 35,219 Shares of Veeva Systems Inc. $VEEV

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Veeva Systems by 6.1% in Q2, acquiring an additional 35,219 shares, bringing its total holdings to approximately $175.5 million.
• Veeva Systems reported $1.26 EPS for the last quarter, missing estimates of $1.90, despite a 16.7% year-over-year revenue growth to $789.08 million.
• Institutions hold about 88.20% of Veeva's stock, with several brokerages increasing their price targets, indicating a generally positive outlook for the company.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 609,377 shares of the technology company's stock after acquiring an additional 35,219 shares during the quarter. Veeva Systems comprises about 1.6% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's portfolio, making the stock its 22nd biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.37% of Veeva Systems worth $175,489,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in shares of Veeva Systems by 19.3% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 7,619 shares of the technology company's stock valued at $2,194,000 after acquiring an additional 1,232 shares during the period. Capital Investment Services of America Inc. raised its holdings in shares of Veeva Systems by 1.2% during the 2nd quarter. Capital Investment Services of America Inc. now owns 80,686 shares of the technology company's stock worth $23,236,000 after buying an additional 949 shares in the last quarter. LifeWealth Investments LLC bought a new stake in shares of Veeva Systems during the 2nd quarter worth $217,000. Ethic Inc. lifted its position in shares of Veeva Systems by 8.9% during the 2nd quarter. Ethic Inc. now owns 18,430 shares of the technology company's stock worth $5,223,000 after buying an additional 1,503 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in shares of Veeva Systems by 5.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,194 shares of the technology company's stock worth $344,000 after buying an additional 64 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Down 0.1%

Shares of VEEV stock opened at $289.50 on Thursday. The stock has a market cap of $47.45 billion, a price-to-earnings ratio of 59.45, a PEG ratio of 2.24 and a beta of 0.98. The stock has a 50-day moving average of $284.11 and a 200-day moving average of $268.13. Veeva Systems Inc. has a 1-year low of $201.54 and a 1-year high of $310.50.

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 business had revenue of $789.08 million for the quarter, compared to analyst estimates of $768.49 million. During the same period in the prior year, the business earned $1.62 EPS. The company's revenue for the quarter was up 16.7% on a year-over-year basis. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. Sell-side analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 3,350 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider 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 document filed with the SEC, which is available at the SEC website. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 25,325 shares of the company's stock, valued at $7,765,151.50. This represents a 19.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,665 shares of company stock valued at $7,438,000 over the last 90 days. Company insiders own 10.30% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on VEEV. Barclays upped their price objective on Veeva Systems from $300.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. William Blair restated an "outperform" rating on shares of Veeva Systems in a research report on Friday, October 17th. KeyCorp upped their price objective on Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Wells Fargo & Company upped their price objective on Veeva Systems from $300.00 to $326.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Veeva Systems in a research report on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $307.58.

Veeva Systems Company 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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