NorthRock Partners LLC Purchases New Stake in Veeva Systems Inc. $VEEV

Key Points

• NorthRock Partners LLC has acquired a new stake in Veeva Systems Inc. during the second quarter, buying 1,751 shares valued at approximately $504,000.
• Analysts have a favorable outlook on Veeva Systems, with 16 analysts rating the stock as a "Buy" and a target price increase from major firms like Piper Sandler and Needham & Company.
• Veeva Systems reported a miss on EPS in its latest quarterly earnings, earning $1.26 per share, which was below analysts' expectations of $1.90, although revenue grew by 16.7% compared to the previous year.

NorthRock Partners LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,751 shares of the technology company's stock, valued at approximately $504,000.

Other hedge funds have also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new position in Veeva Systems in the first quarter valued at approximately $274,000. Crossmark Global Holdings Inc. purchased a new position in Veeva Systems in the first quarter valued at approximately $299,000. Janney Montgomery Scott LLC purchased a new position in Veeva Systems in the first quarter valued at approximately $5,876,000. GAMMA Investing LLC grew its position 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 acquiring an additional 221 shares in the last quarter. Finally, Private Trust Co. NA grew its position in Veeva Systems by 35.0% in the first quarter. Private Trust Co. NA now owns 247 shares of the technology company's stock valued at $57,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of Veeva Systems from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Oppenheimer reaffirmed an "outperform" rating and issued a $325.00 price objective on shares of Veeva Systems in a research report on Thursday, August 28th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Veeva Systems in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Veeva Systems from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $290.00 to $330.00 in a research report on Monday, September 8th. Finally, Needham & Company LLC increased their price objective on shares of Veeva Systems from $300.00 to $355.00 and gave the company 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 given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $307.58.

Veeva Systems Trading Down 0.1%

VEEV stock opened at $287.40 on Thursday. 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 $47.11 billion, a P/E ratio of 59.02, a PEG ratio of 2.22 and a beta of 0.98. The firm has a 50 day simple moving average of $283.16 and a 200-day simple moving average of $265.92.

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

Insiders Place Their Bets

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total value of $1,839,720.00. Following the completion of the transaction, the insider owned 25,325 shares of the company's stock, valued at $7,765,151.50. The trade was a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 24,665 shares of company stock valued at $7,438,000 over the last 90 days. 10.30% of the stock is owned by company insiders.

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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