Veeva Systems Inc. $VEEV Shares Sold by PKO Investment Management Joint Stock Co

Key Points

• PKO Investment Management Joint Stock Co has reduced its stake in Veeva Systems Inc. by 50%, selling 1,000 shares and now holding shares worth $288,000.
• Analysts have recently upgraded Veeva Systems' price targets, with Citigroup raising theirs from $329 to $349 and issuing a "buy" rating, reflecting overall positive sentiment about the company's prospects.
• Insider activity revealed significant sales, with insiders, including Thomas D. Schwenger, selling a total of 24,665 shares worth approximately $7.4 million over the last ninety days.

PKO Investment Management Joint Stock Co lessened its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 50.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the technology company's stock after selling 1,000 shares during the quarter. PKO Investment Management Joint Stock Co's holdings in Veeva Systems were worth $288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Abound Financial LLC purchased a new stake in Veeva Systems during the first quarter valued at about $25,000. Trust Co. of Toledo NA OH acquired a new stake in Veeva Systems during the 2nd quarter worth approximately $29,000. Golden State Wealth Management LLC raised its holdings in Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after buying an additional 78 shares during the period. Wayfinding Financial LLC acquired a new position in Veeva Systems during the first quarter valued at approximately $32,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Veeva Systems during the second quarter worth approximately $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VEEV shares. Citigroup upped their price target on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. UBS Group upped their target price on Veeva Systems from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Evercore ISI raised their target price on Veeva Systems from $285.00 to $295.00 and gave the company an "in-line" rating in a report on Thursday, August 28th. Wells Fargo & Company boosted their price target on Veeva Systems from $300.00 to $326.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $355.00 price objective on shares of Veeva Systems in a research report on Friday, October 17th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $307.58.

Insider Activity

In other news, insider Thomas D. Schwenger sold 3,350 shares of the 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 sale, the insider directly owned 23,773 shares in the company, valued at approximately $7,132,850.92. This represents a 12.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 14,595 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total value of $4,378,500.00. Following the transaction, the senior vice president owned 8,588 shares of the company's stock, valued at $2,576,400. This represents a 62.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is currently owned by insiders.

Veeva Systems Price Performance

Shares of VEEV stock opened at $293.11 on Friday. The firm has a fifty day moving average of $284.70 and a two-hundred day moving average of $269.66. The firm has a market cap of $48.04 billion, a P/E ratio of 60.19, a P/E/G ratio of 2.27 and a beta of 0.98. Veeva Systems Inc. has a 1-year low of $201.54 and a 1-year high of $310.50.

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 company had revenue of $789.08 million for the quarter, compared to the consensus estimate 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 for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 EPS. 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 EPS for the current year.

Veeva Systems Company 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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