Veeva Systems Inc. $VEEV Stake Trimmed by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 73.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the technology company’s stock after selling 4,121 shares during the period. Verdence Capital Advisors LLC’s holdings in Veeva Systems were worth $428,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in VEEV. Fundsmith LLP bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $144,955,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Veeva Systems by 203.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after buying an additional 611,868 shares during the last quarter. Swedbank AB grew its holdings in shares of Veeva Systems by 43.5% in the first quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock valued at $288,983,000 after acquiring an additional 498,971 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Veeva Systems by 757.5% in the first quarter. Pacer Advisors Inc. now owns 485,046 shares of the technology company’s stock valued at $85,203,000 after acquiring an additional 428,478 shares in the last quarter. Finally, Ashe Capital Management LP bought a new position in shares of Veeva Systems in the second quarter valued at approximately $75,232,550. 88.20% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Jonathan Faddis sold 5,198 shares of Veeva Systems stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $299.72, for a total transaction of $1,557,944.56. Following the completion of the sale, the senior vice president owned 4,130 shares in the company, valued at approximately $1,237,843.60. This trade represents a 55.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 directly owned 7,665 shares in the company, valued at $2,119,449.15. This represents a 38.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 56,789 shares of company stock valued at $14,913,889 in the last quarter. 10.60% of the stock is currently owned by company insiders.

Veeva Systems Trading Up 0.9%

Shares of VEEV stock opened at $313.04 on Friday. The stock has a market capitalization of $50.68 billion, a P/E ratio of 51.49, a PEG ratio of 1.32 and a beta of 0.93. The firm’s 50 day moving average is $283.97 and its 200 day moving average is $209.79. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $325.99.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The firm had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same period last year, the company earned $1.99 earnings per share. The business’s revenue for the quarter 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, equities analysts predict that Veeva Systems Inc. will post 6.70 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VEEV. Weiss Ratings upgraded shares of Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Veeva Systems in a research report on Thursday, August 27th. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Robert W. Baird boosted their target price on shares of Veeva Systems from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, October 26th. Finally, BMO Capital Markets increased their target price on shares of Veeva Systems from $175.00 to $270.00 and gave the company a “market perform” rating in a research report on Thursday, August 27th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $293.21.

About Veeva Systems

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.