Veeva Systems Inc. $VEEV Holdings Raised by Investment House LLC

Key Points

• Investment House LLC increased its Veeva Systems stake by 163.4% in the third quarter, ending with 33,070 shares valued at approximately $9.44 million. Institutional investors collectively own 88.2% of Veeva’s stock.
• Veeva reported quarterly revenue of $927.96 million, up 17.6% year over year, and earnings of $2.35 per share, exceeding analyst expectations. The company posted a 29.34% net margin.
• Analysts maintain a generally positive outlook, with 19 Buy, eight Hold, and one Sell rating, producing a consensus “Moderate Buy” rating and a $287.79 price target. Meanwhile, insiders sold $14.9 million worth of shares over the past 90 days.

Investment House LLC raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 163.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,070 shares of the technology company's stock after buying an additional 20,515 shares during the quarter. Investment House LLC's holdings in Veeva Systems were worth $9,440,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fundsmith LLP acquired a new stake in shares of Veeva Systems during the second quarter valued at $144,955,000. Arrowstreet Capital Limited Partnership increased its position in Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company's stock worth $160,427,000 after purchasing an additional 611,868 shares in the last quarter. Swedbank AB raised its stake in Veeva Systems by 43.5% in the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company's stock valued at $288,983,000 after purchasing an additional 498,971 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Veeva Systems by 43.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company's stock valued at $279,970,000 after purchasing an additional 483,720 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Veeva Systems by 757.5% in the 1st quarter. Pacer Advisors Inc. now owns 485,046 shares of the technology company's stock valued at $85,203,000 after purchasing an additional 428,478 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 5,198 shares of Veeva Systems stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total value of $1,557,944.56. Following the transaction, the senior vice president owned 4,130 shares in the company, valued at $1,237,843.60. This trade represents a 55.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the sale, the director directly owned 3,242 shares of the company's stock, valued at $846,291.68. This represents a 18.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 56,789 shares of company stock worth $14,913,889. Company insiders own 10.60% of the company's stock.

Veeva Systems Price Performance

NYSE VEEV opened at $322.96 on Friday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $325.99. The company has a 50-day moving average of $276.07 and a 200-day moving average of $212.28. The company has a market cap of $52.29 billion, a P/E ratio of 53.12, a P/E/G ratio of 1.37 and a beta of 0.93.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. During the same period in the prior year, the firm posted $1.99 EPS. The company's revenue was up 17.6% on a year-over-year basis. 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, equities research analysts anticipate that Veeva Systems Inc. will post 6.70 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on VEEV. Citigroup raised their price target on shares of Veeva Systems from $190.00 to $273.00 and gave the stock a "neutral" rating in a research note on Friday, August 28th. Canaccord Genuity Group upped their price objective on shares of Veeva Systems from $220.00 to $260.00 and gave the company a "hold" rating in a research note on Thursday, August 27th. Royal Bank Of Canada upped their price objective on shares of Veeva Systems from $275.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Wells Fargo & Company restated an "overweight" rating and set a $330.00 target price on shares of Veeva Systems in a research report on Tuesday, September 8th. Finally, Robert W. Baird boosted their price target on Veeva Systems from $260.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $287.79.

Veeva Systems Profile

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva's applications to manage commercial, clinical, regulatory, quality and operational processes.

The company's Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.

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