Veeva Systems Inc. $VEEV Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.9% in the third quarter, Holdings Channel reports. The fund owned 298,150 shares of the technology company’s stock after selling 15,228 shares during the quarter. Veeva Systems comprises 2.6% of Riverbridge Partners LLC’s investment portfolio, making the stock its 9th biggest holding. Riverbridge Partners LLC’s holdings in Veeva Systems were worth $85,107,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. boosted its position in Veeva Systems by 181.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock worth $27,000 after purchasing an additional 60 shares during the last quarter. Burkett Financial Services LLC bought a new stake in shares of Veeva Systems during the 3rd quarter valued at about $27,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Veeva Systems during the 3rd quarter valued at about $38,000. Lodestone Wealth Management LLC lifted its stake in shares of Veeva Systems by 68.3% in the 3rd quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock worth $39,000 after purchasing an additional 56 shares during the period. Finally, Compass Financial Management LLC purchased a new stake in Veeva Systems during the second quarter valued at approximately $27,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $306.22 on Wednesday. The firm has a market cap of $49.58 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 1.31 and a beta of 0.89. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $325.99. The company has a 50 day simple moving average of $290.24 and a two-hundred day simple moving average of $212.79.

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. 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 the consensus estimate of $905.38 million. During the same quarter in the previous year, the firm earned $1.99 earnings per share. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. 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, sell-side analysts anticipate that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on VEEV. TD Cowen increased their price target on shares of Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Weiss Ratings raised shares of Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Evercore upped their target price on shares of Veeva Systems from $185.00 to $250.00 in a report on Thursday, October 8th. UBS Group increased their price target on Veeva Systems from $290.00 to $325.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Jefferies Financial Group raised their price target on Veeva Systems from $295.00 to $375.00 and gave the company a “buy” rating in a report on Friday, November 6th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.50.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 36,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were 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. The transaction 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 stock in a transaction dated 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 position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 56,789 shares of company stock valued at $14,913,889. Insiders own 10.60% of the company’s stock.

More Veeva Systems News

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

• Positive Sentiment: Analysts raised price targets, including Truist and BTIG to $360 and another report to $375, signaling improved potential upside. Canaccord also lifted its target, though it kept a Hold rating. BTIG price target Truist price target Price target raised to $375
• Positive Sentiment: A report points to strong Q2 results, wider Vault CRM adoption and Veeva’s diversified product portfolio as growth supports. A Roche example of using Veeva for faster, more efficient regulatory compliance also offers a real-world endorsement of its life-sciences software. Zacks analysis Roche and Veeva
• Neutral Sentiment: Veeva was highlighted as retesting a buy point, but its shares were also described as meeting resistance around the 21-day moving average, leaving the near-term technical picture mixed. IBD Stock of the Day
• Negative Sentiment: Market saturation is a risk to continued growth, according to the Zacks analysis. Canaccord’s Hold rating, despite its higher target, also reflects some analyst caution. Zacks analysis

About Veeva Systems

Veeva Systems Inc. develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations. The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.