Veeva Systems Inc. $VEEV Stock Holdings Lessened by Strategic Planning Group LLC

Key Points

• Strategic Planning Group LLC cut its Veeva Systems stake by 47.6% in the third quarter, selling 27,280 shares and retaining 30,082 shares valued at approximately $8.6 million. Institutional investors and hedge funds collectively own 88.2% of Veeva’s stock.
• Analysts remain broadly positive, with 19 Buy ratings, eight Holds and one Sell rating. Veeva has a consensus “Moderate Buy” rating and an average price target of $287.79, although the stock recently traded near its 52-week high at $322.96.
• Veeva exceeded quarterly expectations, reporting adjusted EPS of $2.35 versus the $2.23 consensus and revenue of $927.96 million. Revenue increased 17.6% year over year, while insiders sold $14.9 million of stock during the quarter.

Strategic Planning Group LLC decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 47.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,082 shares of the technology company's stock after selling 27,280 shares during the period. Strategic Planning Group LLC's holdings in Veeva Systems were worth $8,587,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Burkett Financial Services LLC bought a new position in shares of Veeva Systems during the third quarter worth approximately $27,000. SHP Wealth Management bought a new stake in Veeva Systems in the 4th quarter valued at $26,000. Pension & Wealth Management Advisors Inc. bought a new stake in Veeva Systems in the 3rd quarter valued at $38,000. Lodestone Wealth Management LLC boosted its stake in Veeva Systems by 68.3% in the 3rd quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company's stock valued at $39,000 after purchasing an additional 56 shares during the period. Finally, Compass Financial Management LLC acquired a new position in Veeva Systems in the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank Of Canada increased their price objective on Veeva Systems from $275.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, August 27th. Guggenheim boosted their target price on shares of Veeva Systems from $276.00 to $310.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Barclays upped their price target on shares of Veeva Systems from $315.00 to $360.00 and gave the company an "overweight" rating in a research note on Monday. Mizuho raised their price target on shares of Veeva Systems from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, August 27th. Finally, TD Cowen raised their price target on shares of Veeva Systems from $235.00 to $283.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $287.79.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the transaction, the director owned 3,242 shares of the company's stock, valued at approximately $846,291.68. This represents a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel J. Rizzo sold 4,841 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the completion of the sale, the executive vice president owned 7,665 shares in the company, valued at approximately $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 56,789 shares of company stock valued at $14,913,889 over the last quarter. 10.60% of the stock is owned by corporate insiders.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $322.96 on Friday. The business has a fifty day moving average price of $276.07 and a two-hundred day moving average price of $212.28. The stock has a market capitalization of $52.29 billion, a PE ratio of 53.12, a P/E/G ratio of 1.37 and a beta of 0.93. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $325.99.

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

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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