Seilern Investment Management Ltd Sells 138,217 Shares of Veeva Systems Inc. $VEEV

Seilern Investment Management Ltd lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 43.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,815 shares of the technology company’s stock after selling 138,217 shares during the quarter. Veeva Systems makes up about 6.4% of Seilern Investment Management Ltd’s portfolio, making the stock its 4th biggest holding. Seilern Investment Management Ltd owned approximately 0.11% of Veeva Systems worth $51,043,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Veeva Systems by 8.4% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 776 shares of the technology company’s stock valued at $173,000 after buying an additional 60 shares during the last quarter. Argos Wealth Advisors LLC boosted its position in Veeva Systems by 3.9% during the first quarter. Argos Wealth Advisors LLC now owns 1,720 shares of the technology company’s stock worth $302,000 after acquiring an additional 65 shares during the last quarter. Toth Financial Advisory Corp boosted its position in Veeva Systems by 24.1% during the third quarter. Toth Financial Advisory Corp now owns 335 shares of the technology company’s stock worth $96,000 after acquiring an additional 65 shares during the last quarter. Cim LLC grew its stake in Veeva Systems by 1.2% during the 1st quarter. Cim LLC now owns 5,778 shares of the technology company’s stock valued at $1,015,000 after acquiring an additional 66 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake in Veeva Systems by 4.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,813 shares of the technology company’s stock valued at $322,000 after acquiring an additional 71 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on VEEV shares. Morgan Stanley increased their price objective on shares of Veeva Systems from $215.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 27th. TD Cowen boosted their target price on Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a report on Monday, August 24th. UBS Group upped their price target on Veeva Systems from $190.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. BMO Capital Markets upped their price target on Veeva Systems from $175.00 to $270.00 and gave the company a “market perform” rating in a research report on Thursday, August 27th. Finally, Weiss Ratings raised Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $284.88.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded up $9.70 on Tuesday, reaching $305.55. The company had a trading volume of 1,122,332 shares, compared to its average volume of 2,326,892. The firm’s 50 day moving average price is $262.80 and its two-hundred day moving average price is $204.53. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $309.32. The firm has a market cap of $49.47 billion, a PE ratio of 50.27, a PEG ratio of 1.26 and a beta of 0.93.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating 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 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 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. As a group, sell-side analysts predict that Veeva Systems Inc. will post 6.70 EPS for the current year.

Insider Activity at Veeva Systems

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

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.