Veeva Systems Inc. $VEEV Stock: Robeco Institutional Asset Management B.V. Decreases Stake

Robeco Institutional Asset Management B.V. trimmed its stake in Veeva Systems Inc. (NYSE:VEEV) by 29.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 588,849 shares of the technology company’s stock after selling 241,891 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.36% of Veeva Systems worth $168,087,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VEEV. Rare Wolf Capital LLC lifted its stake in Veeva Systems by 0.9% in the 3rd quarter. Rare Wolf Capital LLC now owns 13,459 shares of the technology company’s stock valued at $3,842,000 after purchasing an additional 123 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Veeva Systems by 1.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,325 shares of the technology company’s stock worth $5,802,000 after purchasing an additional 384 shares during the period. Family Wealth Partners LLC bought a new position in Veeva Systems during the third quarter worth about $218,000. Investment Research Partners LLC bought a new position in Veeva Systems during the third quarter worth about $290,000. Finally, Worth Financial Advisory Group LLC acquired a new position in Veeva Systems during the third quarter worth approximately $222,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $320.20 on Thursday. The business has a fifty day moving average price of $274.67 and a two-hundred day moving average price of $211.23. The stock has a market capitalization of $51.84 billion, a PE ratio of 52.66, a P/E/G ratio of 1.36 and a beta of 0.93. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $322.99.

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

Insider Activity

In related news, insider Thomas D. Schwenger sold 36,000 shares of the stock in a transaction that occurred on 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 sale, the insider owned 19,449 shares in the company, valued at approximately $4,866,723.27. This trade represents a 64.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jonathan Faddis sold 5,198 shares of the 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 in the company, valued at $1,237,843.60. This represents a 55.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 56,789 shares of company stock valued at $14,913,889 in the last 90 days. 10.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on VEEV. Guggenheim upped their price objective on Veeva Systems from $276.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Mizuho raised their price objective on Veeva Systems from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Stifel Nicolaus set a $300.00 target price on Veeva Systems in a research note on Thursday, August 27th. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Finally, BMO Capital Markets boosted their target price on Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.79.

Veeva Systems 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.