Veeva Systems Inc. $VEEV Stake Cut by Liberty Capital Management Inc.

Liberty Capital Management Inc. reduced its holdings in Veeva Systems Inc. (NYSE:VEEV) by 35.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,141 shares of the technology company’s stock after selling 4,007 shares during the period. Liberty Capital Management Inc.’s holdings in Veeva Systems were worth $2,038,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in Veeva Systems by 7.0% in the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock valued at $727,513,000 after buying an additional 271,252 shares during the last quarter. Amundi grew its position in Veeva Systems by 8.0% in the 1st quarter. Amundi now owns 992,977 shares of the technology company’s stock worth $174,426,000 after purchasing an additional 73,510 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in 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 purchasing an additional 611,868 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Veeva Systems by 2.7% in the first quarter. Royal Bank of Canada now owns 870,281 shares of the technology company’s stock valued at $152,873,000 after purchasing an additional 23,117 shares during the period. Finally, Fundsmith LLP acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $144,955,000. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 5,198 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president owned 4,130 shares of the company’s stock, valued at $1,237,843.60. The trade was a 55.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Rizzo sold 4,841 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was 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 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. Over the last three months, insiders have sold 56,789 shares of company stock valued at $14,913,889. Insiders own 10.60% of the company’s stock.

Veeva Systems Stock Down 0.5%

Shares of VEEV opened at $309.14 on Friday. The firm has a 50-day moving average price of $288.82 and a 200 day moving average price of $211.51. The firm has a market capitalization of $50.05 billion, a PE ratio of 50.85, a P/E/G ratio of 1.33 and a beta of 0.89. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $325.99.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating 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 firm had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. During the same quarter last year, the company earned $1.99 EPS. 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. On average, equities analysts expect that Veeva Systems Inc. will post 6.70 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Mizuho set a $345.00 price target on Veeva Systems in a report on Thursday, October 29th. Canaccord Genuity Group increased their price objective on Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 27th. Barclays raised their target price on Veeva Systems from $360.00 to $375.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Finally, The Goldman Sachs Group lifted their target price on Veeva Systems from $165.00 to $180.00 in a research note on Thursday, August 27th. Nineteen investment 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 MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $300.54.

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.