Moloney Securities Asset Management LLC Reduces Holdings in Veeva Systems Inc. $VEEV

Key Points

• Moloney Securities Asset Management LLC reduced its stake in Veeva Systems by 40.6%, now holding 5,601 shares worth approximately $1.6 million.
• Analysts have upgraded Veeva Systems' stock, with TD Cowen raising its price target from $297 to $380, indicating a strong sentiment towards the company's growth potential.
• Insiders at Veeva Systems sold a combined total of 24,665 shares worth $7.4 million in recent transactions, signaling a potential shift in insider confidence.

Moloney Securities Asset Management LLC trimmed its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 40.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,601 shares of the technology company's stock after selling 3,830 shares during the period. Moloney Securities Asset Management LLC's holdings in Veeva Systems were worth $1,613,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. TFB Advisors LLC grew its position in shares of Veeva Systems by 1.2% in the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company's stock valued at $831,000 after buying an additional 44 shares during the last quarter. Triangle Securities Wealth Management lifted its stake in shares of Veeva Systems by 0.8% in the 2nd quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company's stock worth $1,665,000 after acquiring an additional 45 shares during the period. Marks Group Wealth Management Inc lifted its stake in shares of Veeva Systems by 3.3% in the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company's stock worth $331,000 after acquiring an additional 46 shares during the period. Harbour Investments Inc. lifted its stake in shares of Veeva Systems by 7.6% in the 1st quarter. Harbour Investments Inc. now owns 789 shares of the technology company's stock worth $183,000 after acquiring an additional 56 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Veeva Systems by 4.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company's stock worth $356,000 after acquiring an additional 56 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. TD Cowen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating and raised their price objective for the company from $297.00 to $380.00 in a research note on Tuesday, October 7th. William Blair reiterated an "outperform" rating on shares of Veeva Systems in a research note on Friday, October 17th. Raymond James Financial reiterated an "outperform" rating and issued a $340.00 price objective (up previously from $310.00) on shares of Veeva Systems in a research note on Thursday, August 28th. Oppenheimer reiterated an "outperform" rating and issued a $325.00 price objective on shares of Veeva Systems in a research note on Thursday, August 28th. Finally, Canaccord Genuity Group raised their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the company 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $307.58.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $298.12, for a total transaction of $214,646.40. Following the completion of the sale, the senior vice president directly owned 7,868 shares in the company, valued at $2,345,608.16. The trade was a 8.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction dated 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 owned 25,325 shares of the company's stock, valued at approximately $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. Insiders sold a total of 24,665 shares of company stock worth $7,438,000 over the last ninety days. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems Trading Up 0.6%

NYSE:VEEV opened at $291.66 on Friday. The firm has a 50-day moving average price of $284.44 and a two-hundred day moving average price of $268.67. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The company has a market capitalization of $47.81 billion, a P/E ratio of 59.89, a price-to-earnings-growth ratio of 2.24 and a beta of 0.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Wednesday, August 27th. The technology company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.64). Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The business had revenue of $789.08 million for the quarter, compared to analysts' expectations of $768.49 million. During the same quarter last year, the business posted $1.62 earnings per share. The business's 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. On average, equities research analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

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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