Veeva Systems Inc. $VEEV Stock Position Lowered by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its position in Veeva Systems Inc. (NYSE:VEEV) by 17.5% in the 2nd quarter, Holdings Channel reports. The fund owned 312 shares of the technology company’s stock after selling 66 shares during the period. Cullen Frost Bankers Inc.’s holdings in Veeva Systems were worth $90,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Abound Financial LLC purchased a new stake in Veeva Systems in the 1st quarter worth approximately $25,000. Trust Co. of Toledo NA OH purchased a new stake in Veeva Systems in the 2nd quarter worth approximately $29,000. Golden State Wealth Management LLC lifted its position in Veeva Systems by 152.9% in the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Veeva Systems in the 1st quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Veeva Systems in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.6%

NYSE:VEEV opened at $293.11 on Friday. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50. The firm’s fifty day simple moving average is $284.70 and its 200 day simple moving average is $269.66. The firm has a market capitalization of $48.04 billion, a PE ratio of 60.19, a PEG ratio of 2.27 and a beta of 0.98.

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

Analysts Set New Price Targets

VEEV has been the subject of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $325.00 target price on shares of Veeva Systems in a research report on Thursday, August 28th. JPMorgan Chase & Co. upgraded shares of Veeva Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $290.00 to $330.00 in a research report on Monday, September 8th. Truist Financial increased their price target on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Veeva Systems in a research note on Friday. Finally, Barclays increased their price target on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $307.58.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 14,595 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total value of $4,378,500.00. Following the transaction, the senior vice president directly owned 8,588 shares in the company, valued at approximately $2,576,400. This trade represents a 62.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 3,350 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the completion of the transaction, the insider owned 23,773 shares in the company, valued at $7,132,850.92. The trade was a 12.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,665 shares of company stock worth $7,438,000. 10.30% of the stock is owned by insiders.

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.