Patten Group Inc. Acquires 603 Shares of Veeva Systems Inc. $VEEV

Patten Group Inc. boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,010 shares of the technology company’s stock after acquiring an additional 603 shares during the quarter. Patten Group Inc.’s holdings in Veeva Systems were worth $2,019,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Abound Financial LLC bought a new stake in Veeva Systems in the first quarter valued at about $25,000. ORG Partners LLC bought a new stake in Veeva Systems in the first quarter valued at about $26,000. Trust Co. of Toledo NA OH bought a new stake in Veeva Systems in the second quarter valued at about $29,000. Golden State Wealth Management LLC increased its stake in Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in Veeva Systems in the first quarter valued at about $32,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $289.95 on Wednesday. The company’s 50 day simple moving average is $283.91 and its 200 day simple moving average is $267.99. Veeva Systems Inc. has a fifty-two week low of $201.54 and a fifty-two week high of $310.50. The firm has a market capitalization of $47.53 billion, a P/E ratio of 59.54, a P/E/G ratio of 2.21 and a beta of 0.98.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.64). Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The business had revenue of $789.08 million during the quarter, compared to analyst estimates of $768.49 million. During the same quarter in the prior year, the company earned $1.62 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. Sell-side analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total value of $1,005,134.00. Following the sale, the insider directly owned 23,773 shares in the company, valued at approximately $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $298.12, for a total transaction of $214,646.40. Following the completion of the sale, the senior vice president owned 7,868 shares in the company, valued at approximately $2,345,608.16. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,665 shares of company stock worth $7,438,000. Company insiders own 10.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on VEEV shares. Canaccord Genuity Group upped their target price on shares of Veeva Systems from $270.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Veeva Systems in a research note on Wednesday, October 8th. Evercore ISI upped their target price on shares of Veeva Systems from $285.00 to $295.00 and gave the stock an “in-line” rating in a research report on Thursday, August 28th. Mizuho upped their target price on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Finally, Piper Sandler upped their target price on shares of Veeva Systems from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $307.58.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.