Veeva Systems Inc. $VEEV Shares Bought by Baird Financial Group Inc.

Key Points

• Baird Financial Group increased its Veeva Systems stake by 7.4% in the second quarter, buying 10,996 shares to own 158,608 shares worth approximately $28.1 million. Institutional investors collectively own 88.2% of Veeva’s stock.
• Veeva reported quarterly earnings of $2.35 per share on revenue of $927.96 million, surpassing analyst estimates, while revenue grew 17.6% year over year. Shares opened at $261.44, with a market capitalization of $42.33 billion.
• Analyst sentiment remains favorable, with 19 Buy, eight Hold and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $284.88. Meanwhile, insider Thomas Schwenger sold 36,000 shares for roughly $9.0 million under a prearranged trading plan.

Baird Financial Group Inc. lifted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,608 shares of the technology company's stock after purchasing an additional 10,996 shares during the period. Baird Financial Group Inc. owned about 0.10% of Veeva Systems worth $28,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in VEEV. Williams Jones Wealth Management LLC. boosted its stake in shares of Veeva Systems by 0.4% during the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock worth $2,806,000 after acquiring an additional 40 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Veeva Systems by 0.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock worth $1,982,000 after purchasing an additional 51 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Veeva Systems by 8.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock worth $214,000 after purchasing an additional 54 shares in the last quarter. Main Management ETF Advisors LLC raised its holdings in Veeva Systems by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company's stock worth $1,224,000 after buying an additional 56 shares during the period. Finally, Root Financial Partners LLC raised its holdings in Veeva Systems by 17.1% during the 4th quarter. Root Financial Partners LLC now owns 383 shares of the technology company's stock worth $85,000 after buying an additional 56 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Up 0.2%

Shares of Veeva Systems stock opened at $261.44 on Friday. The stock has a market capitalization of $42.33 billion, a P/E ratio of 43.00, a PEG ratio of 1.11 and a beta of 0.97. The stock has a 50 day moving average price of $227.10 and a two-hundred day moving average price of $190.44. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. During the same quarter last year, the firm posted $1.99 earnings per share. The company'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. Sell-side analysts anticipate that Veeva Systems Inc. will post 6.7 earnings per share for the current year.

Analysts Set New Price Targets

VEEV has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Veeva Systems from $190.00 to $273.00 and gave the stock a "neutral" rating in a report on Friday, August 28th. Wall Street Zen lowered shares of Veeva Systems from a "buy" rating to a "hold" rating in a research note on Monday, August 3rd. Wells Fargo & Company reissued an "overweight" rating and set a $330.00 target price on shares of Veeva Systems in a research note on Tuesday. Weiss Ratings upgraded Veeva Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Finally, Evercore reiterated an "outperform" rating and set a $185.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Nineteen 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. Based on data from MarketBeat.com, Veeva Systems has an average rating of "Moderate Buy" and an average target price of $284.88.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas Schwenger sold 36,000 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the completion of the transaction, the insider owned 19,449 shares of the company's stock, valued at $4,866,723.27. The trade was a 64.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

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.

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