Veeva Systems Inc. $VEEV Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB reduced its holdings in Veeva Systems Inc. (NYSE:VEEV) by 26.3% during the 3rd quarter, Holdings Channel reports. The fund owned 113,455 shares of the technology company’s stock after selling 40,400 shares during the period. Veeva Systems makes up about 0.7% of E. Ohman J or Asset Management AB’s holdings, making the stock its 26th largest holding. E. Ohman J or Asset Management AB’s holdings in Veeva Systems were worth $32,386,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Reyes Financial Architecture Inc. purchased a new position in Veeva Systems during the third quarter worth approximately $69,000. Cardinal Capital Management boosted its stake in shares of Veeva Systems by 24.2% in the third quarter. Cardinal Capital Management now owns 11,971 shares of the technology company’s stock worth $3,417,000 after acquiring an additional 2,334 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Veeva Systems during the 3rd quarter worth $19,896,000. Axxcess Wealth Management LLC purchased a new position in Veeva Systems in the 3rd quarter worth approximately $267,000. Finally, Crossmark Global Holdings Inc. grew its holdings in Veeva Systems by 32.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,188 shares of the technology company’s stock valued at $1,766,000 after buying an additional 1,500 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In other news, EVP Daniel J. Rizzo sold 4,841 shares of Veeva Systems stock in a transaction 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 transaction, the executive vice president directly 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 sale was disclosed in a document filed with the SEC, 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 the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the sale, the insider directly owned 19,449 shares in the company, valued at approximately $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. Insiders have sold a total of 56,789 shares of company stock valued at $14,913,889 over the last ninety days. Company insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on VEEV. BMO Capital Markets raised their price objective on Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a research report on Thursday, August 27th. Needham & Company LLC raised their price target on Veeva Systems from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Royal Bank Of Canada increased their target price on shares of Veeva Systems from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Stifel Nicolaus set a $300.00 price objective on Veeva Systems in a research note on Thursday, August 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $295.00 price objective on shares of Veeva Systems in a research note on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $287.79.

Veeva Systems Trading Up 0.8%

Shares of Veeva Systems stock opened at $322.96 on Friday. The stock has a market capitalization of $52.29 billion, a P/E ratio of 53.12, a PEG ratio of 1.37 and a beta of 0.93. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $325.99. The business’s fifty day moving average price is $276.07 and its 200 day moving average price is $212.28.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The company had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same period last year, the firm earned $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.

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.