Parcion Private Wealth LLC Acquires New Stake in Veeva Systems Inc. $VEEV

Key Points

• Parcion Private Wealth LLC acquired a new stake in Veeva Systems Inc., purchasing 960 shares valued at approximately $276,000 during the second quarter.
• Institutional investors and hedge funds own 88.20% of Veeva Systems' stocks, with several hedge funds significantly increasing their positions in the company recently.
• Veeva Systems reported $1.26 earnings per share, missing estimates, but had a revenue of $789.08 million, a 16.7% increase compared to the previous year.

Parcion Private Wealth LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 960 shares of the technology company's stock, valued at approximately $276,000.

Several other hedge funds have also recently added to or reduced their stakes in VEEV. Nuveen LLC purchased a new stake in shares of Veeva Systems in the first quarter valued at about $365,684,000. Price T Rowe Associates Inc. MD increased its position in Veeva Systems by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock worth $924,754,000 after purchasing an additional 689,700 shares during the last quarter. Linonia Partnership LP increased its position in Veeva Systems by 52.7% during the first quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company's stock worth $425,402,000 after purchasing an additional 633,585 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Veeva Systems by 48.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,799,931 shares of the technology company's stock worth $416,918,000 after purchasing an additional 585,785 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Veeva Systems by 10.7% during the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company's stock worth $1,273,884,000 after purchasing an additional 532,269 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, 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 value of $1,839,720.00. Following the completion of the transaction, the insider directly owned 25,325 shares of the company's stock, valued at $7,765,151.50. The trade was a 19.15% decrease in their position. The transaction was disclosed in a legal filing 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 dated Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total value 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 ownership of the stock. 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 in the last three months. 10.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BTIG Research restated a "buy" rating and set a $340.00 price objective on shares of Veeva Systems in a research report on Friday, October 17th. Barclays raised 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. Evercore ISI raised their price objective on Veeva Systems from $285.00 to $295.00 and gave the stock an "in-line" rating in a research report on Thursday, August 28th. Needham & Company LLC reissued a "buy" rating and set a $355.00 price objective on shares of Veeva Systems in a research report on Friday, October 17th. Finally, Morgan Stanley raised their price objective on Veeva Systems from $210.00 to $222.00 and gave the stock an "underweight" rating in a research report 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $307.58.

Veeva Systems Price Performance

NYSE VEEV opened at $289.50 on Thursday. The company has a market cap of $47.45 billion, a P/E ratio of 59.45, a P/E/G ratio of 2.24 and a beta of 0.98. The stock has a 50-day moving average of $284.11 and a two-hundred 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 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.64). The firm 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 business's revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm 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, analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems 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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