Veeva Systems Inc. $VEEV Shares Sold by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC trimmed its position in Veeva Systems Inc. (NYSE:VEEV) by 21.8% in the third quarter, Holdings Channel reports. The fund owned 8,381 shares of the technology company’s stock after selling 2,335 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Veeva Systems were worth $2,392,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of VEEV. MBL Wealth LLC bought a new stake in Veeva Systems during the third quarter valued at $390,000. Brookstone Capital Management acquired a new position in Veeva Systems during the 3rd quarter valued at about $284,000. Root Financial Partners LLC purchased a new position in Veeva Systems during the 3rd quarter worth $217,000. Investment House LLC increased its stake in Veeva Systems by 163.4% in the 3rd quarter. Investment House LLC now owns 33,070 shares of the technology company’s stock valued at $9,440,000 after buying an additional 20,515 shares during the last quarter. Finally, Reyes Financial Architecture Inc. purchased a new position in Veeva Systems in the third quarter worth $69,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.2%

Shares of NYSE VEEV opened at $323.31 on Friday. The company has a 50 day simple moving average of $277.66 and a two-hundred day simple moving average of $213.05. The stock has a market cap of $52.35 billion, a price-to-earnings ratio of 52.11, a PEG ratio of 1.38 and a beta of 0.93. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $325.99.

Veeva Systems (NYSE:VEEV) last issued its quarterly 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 company had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. Analysts forecast that Veeva Systems Inc. will post 6.70 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Veeva Systems from $215.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Guggenheim raised their target price on shares of Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Barclays raised their price target on Veeva Systems from $315.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Weiss Ratings raised Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Citigroup upped their price objective on Veeva Systems from $190.00 to $273.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. 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 data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.79.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 36,000 shares of Veeva Systems stock in a transaction 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 directly owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. The trade was a 64.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $299.72, for a total value of $1,557,944.56. Following the transaction, the senior vice president directly owned 4,130 shares of the company’s stock, valued at $1,237,843.60. The trade was 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. Over the last three months, insiders have sold 56,789 shares of company stock worth $14,913,889. Insiders own 10.60% of the company’s stock.

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.