Insider Selling: Veeva Systems (NYSE:VEEV) Insider Sells 10,000 Shares of Stock

Key Points

• Insider sale: Veeva Systems insider Thomas Schwenger sold 10,000 shares for approximately $2.81 million under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 33.96% to 19,449 shares.
• Strong quarterly results: Veeva reported quarterly EPS of $2.35, exceeding the $2.23 consensus estimate, while revenue rose 17.6% year over year to $927.96 million.
• Positive market outlook: Shares recently traded at $285.56, while analysts maintain a “Moderate Buy” consensus with an average price target of $284.46; institutional investors own 88.2% of the stock.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) insider Thomas Schwenger sold 10,000 shares of the company's 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 transaction, the insider owned 19,449 shares in the company, valued at approximately $5,471,587.17. The trade was a 33.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veeva Systems Trading Up 3.2%

NYSE:VEEV traded up $8.87 on Monday, reaching $285.56. 2,835,843 shares of the stock traded hands, compared to its average volume of 2,488,136. The company has a market capitalization of $46.39 billion, a price-to-earnings ratio of 46.97, a PEG ratio of 1.19 and a beta of 0.92. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The company's fifty day simple moving average is $208.48 and its 200 day simple moving average is $184.39.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued 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. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million during the quarter, compared to analysts' expectations of $905.38 million. During the same period in the previous year, the company earned $1.99 earnings per share. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. 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. Equities analysts anticipate that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Veeva Systems

A number of hedge funds have recently added to or reduced their stakes in VEEV. Sivia Capital Partners LLC lifted its holdings in Veeva Systems by 225.9% in the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company's stock valued at $899,000 after acquiring an additional 2,164 shares during the period. Bank of Nova Scotia boosted its position in Veeva Systems by 44.5% in the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company's stock worth $1,689,000 after purchasing an additional 1,806 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Veeva Systems by 34.6% during the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company's stock valued at $2,543,000 after purchasing an additional 2,272 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Veeva Systems by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company's stock valued at $19,856,000 after purchasing an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC increased its position in shares of Veeva Systems by 5.3% during the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company's stock valued at $3,140,000 after purchasing an additional 575 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Mizuho increased their target price on Veeva Systems from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday. Royal Bank Of Canada upped their price target on Veeva Systems from $275.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday. Evercore reaffirmed an "outperform" rating and set a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. BTIG Research reissued a "buy" rating and issued a $340.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Zacks Research lowered Veeva Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $284.46.

Veeva Systems Company Profile

Veeva Systems NYSE: VEEV is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva's product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.

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