RFG Advisory LLC Purchases Shares of 7,986 Veeva Systems Inc. $VEEV

Key Points

• RFG Advisory LLC acquired 7,986 Veeva Systems shares worth approximately $1.42 million in the second quarter. Institutional investors collectively own 88.2% of the company.
• Veeva reported quarterly EPS of $2.35, exceeding estimates of $2.23, while revenue rose 17.6% year over year to $927.96 million. The stock opened at $262.30, with a market capitalization of about $42.47 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $284.88, although insiders sold 46,750 shares worth approximately $12.0 million over the past three months.

RFG Advisory LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,986 shares of the technology company's stock, valued at approximately $1,417,000.

A number of other institutional investors have also recently made changes to their positions in the company. SHP Wealth Management bought a new position in Veeva Systems during the fourth quarter valued at approximately $26,000. Compass Financial Management LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $27,000. Arlington Trust Co LLC bought a new position in shares of Veeva Systems during the 2nd quarter valued at approximately $29,000. Field & Main Bank bought a new position in shares of Veeva Systems during the 2nd quarter valued at approximately $29,000. Finally, MV Capital Management Inc. purchased a new position in shares of Veeva Systems in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

VEEV opened at $262.30 on Friday. The stock's 50 day moving average price is $228.50 and its 200-day moving average price is $190.94. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The stock has a market cap of $42.47 billion, a price-to-earnings ratio of 43.14, a P/E/G ratio of 1.11 and a beta of 0.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly 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 firm had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same period last year, the company earned $1.99 EPS. Veeva Systems's quarterly revenue 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, analysts predict that Veeva Systems Inc. will post 6.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent research reports. Oppenheimer upped their price target on shares of Veeva Systems from $225.00 to $300.00 and gave the company an "outperform" rating in a research note on Monday, August 17th. Raymond James Financial reaffirmed an "outperform" rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Evercore reissued an "outperform" rating and set a $185.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Morgan Stanley upped their price objective on Veeva Systems from $215.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, August 27th. Finally, Truist Financial lifted their target price on Veeva Systems from $262.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $284.88.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 10,000 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $281.33, for a total value of $2,813,300.00. Following the completion of the sale, the insider directly owned 19,449 shares of the company's stock, valued at $5,471,587.17. The trade was a 33.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated 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 sale, the director directly owned 3,242 shares of the company's stock, valued at approximately $846,291.68. This trade represents a 18.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,750 shares of company stock valued at $12,017,360 over the last three months. Insiders own 10.60% of the company's stock.

Veeva Systems Profile

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company's Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.