Avestar Capital LLC Acquires 12,976 Shares of Veeva Systems Inc. $VEEV

Avestar Capital LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 12,976 shares of the technology company’s stock, valued at approximately $3,704,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Compass Financial Management LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at $27,000. Burkett Financial Services LLC bought a new position in shares of Veeva Systems in the third quarter valued at about $27,000. Farmers & Merchants Investments Inc. increased its position in Veeva Systems by 181.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock worth $27,000 after acquiring an additional 60 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $29,000. Finally, Field & Main Bank acquired a new stake in shares of Veeva Systems during the 2nd quarter valued at $29,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

NYSE:VEEV opened at $313.04 on Friday. The company has a fifty day moving average of $283.97 and a two-hundred day moving average of $209.79. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $325.99. The stock has a market capitalization of $50.68 billion, a PE ratio of 50.14, a P/E/G ratio of 1.32 and a beta of 0.93.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The firm had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter last year, the business posted $1.99 earnings per share. The firm’s 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. Research analysts forecast that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 5,198 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total transaction of $1,557,944.56. Following the transaction, the senior vice president directly owned 4,130 shares in the company, valued at $1,237,843.60. The trade was a 55.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel Rizzo sold 4,841 shares of Veeva Systems stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $276.51, for a total value 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. Insiders have sold 56,789 shares of company stock worth $14,913,889 over the last three months. 10.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VEEV shares. Oppenheimer reaffirmed an “outperform” rating and set a $325.00 target price on shares of Veeva Systems in a research report on Thursday, October 15th. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $295.00 price objective on shares of Veeva Systems in a research report on Thursday, August 27th. Truist Financial upped their target price on shares of Veeva Systems from $262.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Finally, BMO Capital Markets boosted their price target on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a research note on Thursday, August 27th. Nineteen 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, the company has an average rating of “Moderate Buy” and an average price target of $293.21.

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.