Western Financial Corp CA Purchases 4,792 Shares of Veeva Systems Inc. $VEEV

Western Financial Corp CA purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,792 shares of the technology company’s stock, valued at approximately $1,368,000.

A number of other institutional investors have also modified their holdings of the company. Burkett Financial Services LLC acquired a new position in Veeva Systems during the 3rd quarter worth about $27,000. SHP Wealth Management purchased a new position in Veeva Systems during the 4th quarter valued at about $26,000. MV Capital Management Inc. acquired a new position in Veeva Systems in the 4th quarter valued at about $30,000. Lodestone Wealth Management LLC grew its position in Veeva Systems by 68.3% in the 3rd quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock valued at $39,000 after acquiring an additional 56 shares in the last quarter. Finally, Reflection Asset Management purchased a new stake in Veeva Systems during the fourth quarter worth about $32,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In related news, EVP Daniel J. Rizzo sold 4,841 shares of Veeva Systems stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total value of $1,338,584.91. Following the completion of the transaction, the executive vice president owned 7,665 shares in the company, valued at $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Thomas D. Schwenger sold 36,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the completion of the transaction, the insider owned 19,449 shares of the company’s stock, valued at $4,866,723.27. This represents a 64.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 51,591 shares of company stock valued at $13,355,945. 10.60% of the stock is currently owned by corporate insiders.

Key Veeva Systems News

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: IQVIA standardizes on Veeva’s clinical software: IQVIA selected Veeva Clinical Trial Management System, eTMF, Study Startup and Site Connect as enterprise-standard applications across its global clinical development studies. The agreement expands an existing electronic data capture partnership, strengthens Veeva’s position in clinical-trial workflows and could increase adoption among IQVIA’s biopharma customers. IQVIA Selects Veeva Clinical Operations Applications
• Positive Sentiment: Veeva Basics gains traction: More than 175 emerging biotechnology companies are using Veeva Basics, supporting the company’s strategy of serving smaller customers with streamlined clinical, regulatory and quality software. This could create a long-term pipeline as these companies grow and require broader enterprise solutions. Veeva Systems’ Basics Gains Traction With 175+ Emerging Biotech Firms
• Positive Sentiment: Technical momentum remains favorable: Veeva shares recently reached a 52-week high and moved above a buy point in an early-stage chart pattern, suggesting institutional investors may be increasing exposure to the company’s cloud and AI-related software opportunity. Veeva Stock Breaks Out as Big Money Grabs Exposure
• Neutral Sentiment: Investor Day scheduled: Veeva will hold a virtual Investor Day on November 5, which may provide updated details on growth plans, product adoption, artificial-intelligence initiatives and financial targets. Veeva to Host Virtual Investor Day
• Negative Sentiment: Valuation and profit-taking risk: With VEEV trading near its 52-week high at a forward-looking premium valuation, investors may be locking in gains after the recent advance. That dynamic can weigh on the stock even as the IQVIA announcement improves Veeva’s longer-term growth outlook.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VEEV. Weiss Ratings raised shares of Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Robert W. Baird raised their price objective on shares of Veeva Systems from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Guggenheim lifted their price objective on shares of Veeva Systems from $276.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Mizuho upped their target price on shares of Veeva Systems from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Finally, Truist Financial upped their target price on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a research note 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.88.

Veeva Systems Trading Down 1.5%

NYSE:VEEV traded down $4.46 during midday trading on Wednesday, reaching $297.17. The company had a trading volume of 1,239,755 shares, compared to its average volume of 2,327,460. The firm has a market capitalization of $48.12 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 1.26 and a beta of 0.93. The stock’s fifty day simple moving average is $266.28 and its 200-day simple moving average is $206.24. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $309.32.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. Veeva Systems’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 EPS. 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 expect that Veeva Systems Inc. will post 6.70 EPS for the current year.

About Veeva Systems

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.