Veeva Systems Inc. $VEEV Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. has reduced its holdings in Veeva Systems Inc. by 27.7%, selling 7,639 shares and now owning 19,928 shares valued at approximately $5.74 million.
• Veeva Systems reported quarterly earnings of $1.26 per share, missing the expected $1.90, although revenue increased by 16.7% compared to the previous year.
• Analysts generally rate Veeva Systems as a "Moderate Buy", with a consensus target price of $307.58 per share after multiple firms raised their price targets recently.

Envestnet Portfolio Solutions Inc. lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 27.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,928 shares of the technology company's stock after selling 7,639 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Veeva Systems were worth $5,739,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of VEEV. GAMMA Investing LLC raised its position in shares of Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock worth $422,000 after acquiring an additional 221 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Veeva Systems in the first quarter valued at about $5,876,000. Sowell Financial Services LLC acquired a new stake in shares of Veeva Systems in the first quarter valued at about $274,000. QRG Capital Management Inc. grew its position in shares of Veeva Systems by 6.1% in the first quarter. QRG Capital Management Inc. now owns 11,036 shares of the technology company's stock valued at $2,556,000 after purchasing an additional 634 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its position in shares of Veeva Systems by 7.9% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 6,387 shares of the technology company's stock valued at $1,479,000 after purchasing an additional 466 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Trading Up 0.6%

VEEV opened at $287.81 on Wednesday. The firm has a market capitalization of $47.17 billion, a PE ratio of 59.10, a PEG ratio of 2.21 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The firm's 50-day moving average price is $283.06 and its 200 day moving average price is $265.77.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The technology company reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.90 by ($0.64). The business had revenue of $789.08 million for the quarter, compared to analyst estimates of $768.49 million. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The business's revenue 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. As a group, analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the transaction, the insider directly owned 25,325 shares of the company's stock, valued at $7,765,151.50. The trade was a 19.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction dated 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 directly owned 23,773 shares in the company, valued at $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,665 shares of company stock valued at $7,438,000 over the last ninety days. Company insiders own 10.30% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on VEEV shares. Truist Financial lifted their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a research report on Thursday, August 28th. Mizuho lifted their target price on shares of Veeva Systems from $295.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Canaccord Genuity Group lifted their target price on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "hold" rating in a research report on Thursday, August 28th. Evercore ISI lifted their target price on shares of Veeva Systems from $285.00 to $295.00 and gave the company an "in-line" rating in a research report on Thursday, August 28th. Finally, UBS Group lifted their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus 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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