Veeva Systems Inc. $VEEV Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Veeva Systems stake by 60.7% in the third quarter, selling 139,855 shares and retaining 90,573 shares valued at approximately $25.9 million.
• Veeva reported quarterly earnings of $2.35 per share, exceeding estimates, while revenue rose 17.6% year over year to $927.96 million. The stock traded near its 52-week high, and analysts maintained a “Moderate Buy” consensus rating with an average price target of $285.92.
• Other institutions continued building positions, but insiders sold shares worth nearly $14.9 million over the past three months. Institutional investors own 88.2% of Veeva, while company insiders own 10.6%.

Assenagon Asset Management S.A. lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 60.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,573 shares of the technology company's stock after selling 139,855 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Veeva Systems worth $25,854,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Czech National Bank bought a new position in shares of Veeva Systems in the second quarter worth approximately $7,584,000. Vulcan Value Partners LLC purchased a new position in shares of Veeva Systems in the second quarter worth $3,769,000. East Coast Asset Management LLC. bought a new position in shares of Veeva Systems during the first quarter valued at $1,665,000. Westwind Capital bought a new position in shares of Veeva Systems during the third quarter valued at $1,684,000. Finally, Rockland Trust Co. lifted its holdings in shares of Veeva Systems by 21.4% during the second quarter. Rockland Trust Co. now owns 173,760 shares of the technology company's stock valued at $30,837,000 after purchasing an additional 30,678 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Veeva Systems Trading Up 0.2%

NYSE VEEV opened at $310.90 on Monday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $319.95. The stock has a market cap of $50.34 billion, a price-to-earnings ratio of 51.14, a PEG ratio of 1.32 and a beta of 0.93. The company's 50 day moving average is $269.81 and its two-hundred day moving average is $208.18.

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

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent analyst reports. Stifel Nicolaus set a $300.00 price objective on Veeva Systems in a research report on Thursday, August 27th. Mizuho increased their price objective on shares of Veeva Systems from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. UBS Group raised their target price on shares of Veeva Systems from $190.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 27th. BMO Capital Markets raised their target price on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a "market perform" rating in a report on Thursday, August 27th. Finally, Barclays lifted their target price on shares of Veeva Systems from $275.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.92.

Insiders Place Their Bets

In related news, insider Thomas Schwenger sold 10,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the completion of the sale, the insider owned 19,449 shares in the company, valued at approximately $5,471,587.17. This trade represents a 33.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel Rizzo sold 4,841 shares of Veeva Systems stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total value of $1,338,584.91. Following the sale, the executive vice president directly owned 7,665 shares in the company, valued at $2,119,449.15. This trade represents a 38.71% decrease in their position. 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. Over the last three months, insiders have sold 56,789 shares of company stock worth $14,913,889. Company insiders own 10.60% of the company's stock.

Veeva Systems News Summary

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: IQVIA selected Veeva’s clinical software as an enterprise standard. IQVIA will use Veeva Clinical Trial Management System, eTMF, Study Startup, and Site Connect across its global research operations. The agreement expands Veeva’s role in IQVIA’s clinical workflow, strengthens its position with contract research organizations and biopharma customers, and could support recurring revenue growth. Veeva Systems Becomes Default Clinical Software Across a Major Research Partner
• Positive Sentiment: Technical momentum and institutional interest have accelerated. Reports said Veeva broke above a buy point as “big money” added exposure to the company’s AI-related software opportunity. Shares subsequently reached a fresh 52-week high and posted sizable single-session gains, attracting additional momentum-oriented investors. Veeva Stock Breaks Out As Big Money Grabs Exposure To The AI Software Play
• Positive Sentiment: Analyst coverage remains favorable. Oppenheimer maintained a $325 price target, while the average Wall Street recommendation remains positive. These views reinforce the market’s expectation that Veeva can continue expanding despite a potential moderation in research-and-development growth. Oppenheimer Keeps $325 Target for Veeva Systems Stock
• Neutral Sentiment: More than 175 emerging biotechs are reportedly using Veeva Basics, indicating continued adoption of the company’s broader cloud software platform. However, the immediate financial impact was not quantified. Veeva’s Clinical Technology Moat and IQVIA Deal
• Negative Sentiment: Senior Vice President Jonathan Faddis sold 5,198 shares for approximately $1.56 million, reducing his direct ownership by 55.7%. The transaction occurred under a pre-arranged Rule 10b5-1 plan, which limits its significance as a discretionary bearish signal, but insider selling can still temper enthusiasm after a strong rally. SEC Insider Transaction Filing

Veeva Systems Company 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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