Smith Group Asset Management LLC Buys 2,472 Shares of Veeva Systems Inc. $VEEV

Key Points

• Smith Group Asset Management LLC increased its holdings in Veeva Systems by 2.8%, acquiring an additional 2,472 shares during the second quarter, bringing its total to 89,426 shares.
• Veeva Systems recently reported a 16.7% year-over-year revenue increase for its latest quarter, generating $789.08 million, despite earnings per share falling short of expectations.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Veeva Systems with a price target of $307.58, indicating strong potential for future growth across multiple research reports.

Smith Group Asset Management LLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,426 shares of the technology company's stock after acquiring an additional 2,472 shares during the quarter. Veeva Systems accounts for about 1.7% of Smith Group Asset Management LLC's investment portfolio, making the stock its 29th largest position. Smith Group Asset Management LLC owned 0.05% of Veeva Systems worth $25,753,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VEEV. Abound Financial LLC bought a new position in Veeva Systems in the 1st quarter worth about $25,000. Trust Co. of Toledo NA OH bought a new position in Veeva Systems in the 2nd quarter worth about $29,000. Golden State Wealth Management LLC increased its stake in Veeva Systems by 152.9% in the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at about $32,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Veeva Systems during the 2nd quarter valued at about $32,000. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several recent research reports. Truist Financial increased their price objective on Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a research report on Thursday, August 28th. Wells Fargo & Company increased their price objective on Veeva Systems from $300.00 to $326.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Veeva Systems in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a "buy" rating and set a $355.00 price objective on shares of Veeva Systems in a research report on Friday, October 17th. Finally, Mizuho increased their price objective on Veeva Systems from $295.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $307.58.

Veeva Systems Stock Performance

NYSE VEEV opened at $291.66 on Friday. Veeva Systems Inc. has a fifty-two week low of $201.54 and a fifty-two week high of $310.50. The stock has a 50 day simple moving average of $284.44 and a two-hundred day simple moving average of $268.67. The stock has a market cap 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 released its quarterly earnings data 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 return on equity of 13.72% and a net margin of 27.29%.The business had revenue of $789.08 million during the quarter, compared to analysts' expectations of $768.49 million. During the same quarter last year, the business posted $1.62 EPS. The company's quarterly 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. Sell-side analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the insider owned 25,325 shares in the company, valued at $7,765,151.50. This trade represents a 19.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $298.12, for a total value of $214,646.40. Following the completion of the transaction, the senior vice president owned 7,868 shares of the company's stock, valued at approximately $2,345,608.16. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,665 shares of company stock worth $7,438,000. 10.30% of the stock is currently owned by company insiders.

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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