Veeva Systems Inc. $VEEV Shares Sold by Fairman Group LLC

Key Points

• Fairman Group LLC reduced its stake in Veeva Systems by 19.1% during Q2, now holding 20,989 shares worth approximately $6,044,000.
• Veeva Systems reported an earnings per share (EPS) of $1.26 for the most recent quarter, falling short of analyst expectations by $0.64, despite a revenue increase of 16.7% year-over-year.
• Insider sales included a notable transaction where SVP Jonathan Faddis sold 14,595 shares at an average price of $300.00, reducing his ownership by 62.96%.

Fairman Group LLC lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 19.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,989 shares of the technology company's stock after selling 4,950 shares during the quarter. Veeva Systems comprises about 5.0% of Fairman Group LLC's portfolio, making the stock its 5th largest holding. Fairman Group LLC's holdings in Veeva Systems were worth $6,044,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. TFB Advisors LLC raised its stake in Veeva Systems by 1.2% in the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company's stock worth $831,000 after purchasing an additional 44 shares in the last quarter. Triangle Securities Wealth Management raised its stake in Veeva Systems by 0.8% in the 2nd quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company's stock worth $1,665,000 after purchasing an additional 45 shares in the last quarter. Marks Group Wealth Management Inc raised its stake in Veeva Systems by 3.3% in the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company's stock worth $331,000 after purchasing an additional 46 shares in the last quarter. Harbour Investments Inc. increased its holdings in Veeva Systems by 7.6% in the 1st quarter. Harbour Investments Inc. now owns 789 shares of the technology company's stock valued at $183,000 after buying an additional 56 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Veeva Systems by 4.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company's stock valued at $356,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $287.81 on Wednesday. The company has a market capitalization of $47.17 billion, a P/E ratio of 59.10, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. Veeva Systems Inc. has a 52-week low of $201.54 and a 52-week high of $310.50. The company'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 issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.64). Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The firm had revenue of $789.08 million during the quarter, compared to analyst estimates of $768.49 million. During the same quarter last year, the firm posted $1.62 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. Analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 14,595 shares of the company's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the transaction, the senior vice president owned 8,588 shares in the company, valued at approximately $2,576,400. This represents a 62.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the company's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the transaction, the insider owned 25,325 shares in the company, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,665 shares of company stock worth $7,438,000 in the last quarter. Company insiders own 10.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI raised their target price on shares of Veeva Systems from $285.00 to $295.00 and gave the company an "in-line" rating in a report on Thursday, August 28th. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Saturday. Oppenheimer reissued an "outperform" rating and issued a $325.00 target price on shares of Veeva Systems in a report on Thursday, August 28th. JPMorgan Chase & Co. raised shares of Veeva Systems from a "neutral" rating to an "overweight" rating and raised their target price for the company from $290.00 to $330.00 in a report on Monday, September 8th. Finally, Canaccord Genuity Group raised their target price on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "hold" rating in a report on Thursday, August 28th. Sixteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock 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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