Tidal Investments LLC Acquires 9,859 Shares of Veeva Systems Inc. $VEEV

Tidal Investments LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 49.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 29,882 shares of the technology company’s stock after buying an additional 9,859 shares during the period. Tidal Investments LLC’s holdings in Veeva Systems were worth $5,303,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. SHP Wealth Management bought a new stake in shares of Veeva Systems during the 4th quarter worth about $26,000. MV Capital Management Inc. bought a new position in shares of Veeva Systems in the 4th quarter valued at approximately $30,000. Reflection Asset Management bought a new position in shares of Veeva Systems in the 4th quarter valued at approximately $32,000. BOK Financial Private Wealth Inc. acquired a new stake in Veeva Systems in the 4th quarter worth approximately $33,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Veeva Systems in the 3rd quarter worth approximately $45,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Down 0.0%

Shares of NYSE VEEV opened at $262.30 on Monday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The company has a market cap of $42.47 billion, a P/E ratio of 43.14, a P/E/G ratio of 1.12 and a beta of 0.97. The business’s 50 day moving average is $228.50 and its two-hundred day moving average is $191.08.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter last year, the company posted $1.99 earnings per share. Veeva Systems’s quarterly 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. Sell-side analysts expect that Veeva Systems Inc. will post 6.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 10,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were 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 of the company’s stock, valued at approximately $5,471,587.17. The trade was a 33.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 46,750 shares of company stock valued at $12,017,360. Insiders own 10.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Robert W. Baird increased their price target on Veeva Systems from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Raymond James Financial restated an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $330.00 price objective on shares of Veeva Systems in a report on Tuesday, September 8th. Canaccord Genuity Group raised their target price on shares of Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 27th. Finally, Stifel Nicolaus set a $300.00 target price on shares of Veeva Systems in a report on Thursday, August 27th. Nineteen equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $284.88.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company’s Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.