Wealth Enhancement Trust Services Inc. Buys 3,933 Shares of Veeva Systems Inc. $VEEV

Key Points

• Wealth Enhancement Trust Services increased its Veeva Systems stake by 517.5%, acquiring 3,933 additional shares and bringing its holdings to 4,693 shares worth approximately $1.34 million. Institutional investors collectively own 88.2% of Veeva.
• Veeva reported stronger-than-expected quarterly results, with revenue up 17.6% year over year to $927.96 million and earnings of $2.35 per share versus the $2.23 consensus estimate.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $284.88, though the stock’s elevated 46.4 P/E ratio and recent insider sales remain potential concerns.

Wealth Enhancement Trust Services Inc. boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 517.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,693 shares of the technology company's stock after acquiring an additional 3,933 shares during the quarter. Wealth Enhancement Trust Services Inc.'s holdings in Veeva Systems were worth $1,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fundsmith LLP acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at $144,955,000. Arrowstreet Capital Limited Partnership increased its position in shares of Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company's stock worth $160,427,000 after purchasing an additional 611,868 shares in the last quarter. Swedbank AB increased its position in shares of Veeva Systems by 43.5% during the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company's stock worth $288,983,000 after purchasing an additional 498,971 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Veeva Systems by 43.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company's stock valued at $279,970,000 after purchasing an additional 483,720 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Veeva Systems by 757.5% during the 1st quarter. Pacer Advisors Inc. now owns 485,046 shares of the technology company's stock valued at $85,203,000 after purchasing an additional 428,478 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Trending Headlines about Veeva Systems

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

• Positive Sentiment: Growing customer adoption: More than 175 emerging biotechnology companies are standardizing on Veeva Basics, which offers preconfigured applications across clinical, regulatory, quality, medical, and commercial functions. Faster deployments could help Veeva win customers early and expand with them as they progress toward commercialization. Emerging Biotechs Standardize on Veeva Basics to Accelerate Drug Development
• Positive Sentiment: Clinical-data platform gaining scale: Veeva DQS has cleaned data for more than 1 million clinical-trial subjects across over 1,000 studies and automated more than 500,000 queries. The reported time and cost savings strengthen the case for broader adoption of Veeva’s data-management products and could support recurring revenue growth. Veeva DQS Cleans Data for More Than 1 Million Subjects
• Neutral Sentiment: Valuation remains a consideration: Jim Cramer said he prefers Salesforce over Veeva among software recovery candidates, signaling that some investors may view Veeva’s rebound as less compelling despite its operating momentum. VEEV’s elevated earnings multiple also leaves the stock sensitive to any slowdown in growth or guidance. Jim Cramer Has Reservations About One of These Software Comebacks
• Negative Sentiment: Insider selling adds a modest overhang: Executive Vice President Daniel Rizzo sold 4,841 shares worth approximately $1.34 million. The filing said the transaction covered tax obligations related to vested equity awards, reducing its significance as a bearish signal, but it may still attract attention after the stock’s substantial advance.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VEEV. Needham & Company LLC boosted their price target on shares of Veeva Systems from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Robert W. Baird raised their price objective on shares of Veeva Systems from $260.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Wall Street Zen cut shares of Veeva Systems from a "buy" rating to a "hold" rating in a research note on Saturday, September 26th. Oppenheimer boosted their target price on Veeva Systems from $225.00 to $300.00 and gave the stock an "outperform" rating in a report on Monday, August 17th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $330.00 price target on shares of Veeva Systems in a research report on Tuesday, September 8th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus price target of $284.88.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the transaction, the director directly owned 3,242 shares in the company, valued at approximately $846,291.68. This trade represents a 18.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel J. Rizzo sold 4,841 shares of Veeva Systems stock in a transaction 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 completion of the sale, the executive vice president directly owned 7,665 shares of the company's stock, valued at $2,119,449.15. This trade represents a 38.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 51,591 shares of company stock worth $13,355,945 in the last quarter. Insiders own 10.60% of the company's stock.

Veeva Systems Trading Down 0.5%

VEEV opened at $282.13 on Thursday. The stock has a market capitalization of $45.68 billion, a PE ratio of 46.40, a PEG ratio of 1.21 and a beta of 0.93. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $308.36. The firm has a 50-day moving average price of $257.51 and a two-hundred day moving average price of $202.22.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same period in the previous year, the firm posted $1.99 earnings per share. The company's revenue was up 17.6% on a year-over-year basis. 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, research analysts predict that Veeva Systems Inc. will post 6.7 EPS for the current year.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.

The company's product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.

Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.

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