Stephens Investment Management Group LLC Decreases Stock Holdings in Veeva Systems Inc. $VEEV

Stephens Investment Management Group LLC trimmed its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 17.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,091 shares of the technology company's stock after selling 12,260 shares during the quarter. Stephens Investment Management Group LLC's holdings in Veeva Systems were worth $16,729,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Abound Financial LLC purchased a new position in Veeva Systems during the 1st quarter valued at $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 boosted 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 purchasing an additional 78 shares in the last quarter. Wayfinding Financial LLC bought a new position in Veeva Systems during the 1st quarter valued at about $32,000. Finally, Legacy Investment Solutions LLC bought a new position in Veeva Systems during the 2nd quarter valued at about $32,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $289.50 on Thursday. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50. The firm has a market capitalization of $47.45 billion, a price-to-earnings ratio of 59.45, a price-to-earnings-growth ratio of 2.24 and a beta of 0.98. The business's 50 day moving average price is $284.11 and its 200-day moving average price is $268.13.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.64). The firm had revenue of $789.08 million for the quarter, compared to analysts' expectations of $768.49 million. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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, sell-side analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 3,350 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 23,773 shares in the company, valued at $7,132,850.92. This trade represents a 12.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the business'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 directly owned 7,868 shares in the company, 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. Insiders have sold 24,665 shares of company stock valued at $7,438,000 in the last quarter. Corporate insiders own 10.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. KeyCorp upped their price target on shares of Veeva Systems from $285.00 to $325.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Wells Fargo & Company increased their target price on Veeva Systems from $300.00 to $326.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. William Blair restated an "outperform" rating on shares of Veeva Systems in a research report on Friday, October 17th. Piper Sandler raised their price target on Veeva Systems from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Finally, Stifel Nicolaus raised their price target on Veeva Systems from $295.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $307.58.

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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