Sequoia Financial Advisors LLC Has $5.03 Million Position in Veeva Systems Inc. $VEEV

Sequoia Financial Advisors LLC lifted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 8.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 28,344 shares of the technology company’s stock after acquiring an additional 2,246 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Veeva Systems were worth $5,030,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in Veeva Systems by 16,590.3% in the 2nd quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company’s stock worth $6,990,228,000 after acquiring an additional 39,152,230 shares in the last quarter. Norges Bank purchased a new stake in shares of Veeva Systems in the fourth quarter worth approximately $332,412,000. Durable Capital Partners LP acquired a new stake in shares of Veeva Systems during the second quarter worth approximately $281,351,000. Fundsmith LLP acquired a new stake in shares of Veeva Systems during the second quarter worth approximately $144,955,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Veeva Systems by 203.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after purchasing an additional 611,868 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the sale, the director directly owned 3,242 shares in the company, valued at $846,291.68. This represents a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Schwenger sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $250.23, for a total value of $9,008,280.00. Following the completion of the sale, the insider directly owned 19,449 shares in the company, valued at approximately $4,866,723.27. This represents a 64.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 46,750 shares of company stock valued at $12,017,360. Company insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 0.5%

Shares of Veeva Systems stock opened at $262.30 on Friday. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The stock has a 50 day moving average price of $228.50 and a two-hundred day moving average price of $190.94. The stock has a market capitalization of $42.47 billion, a P/E ratio of 43.14, a PEG ratio of 1.11 and a beta of 0.97.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. Veeva Systems’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.99 earnings per share. 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. Sell-side analysts anticipate that Veeva Systems Inc. will post 6.7 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $295.00 target price on shares of Veeva Systems in a research report on Thursday, August 27th. Royal Bank Of Canada boosted their price target on shares of Veeva Systems from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. UBS Group upped their price target on shares of Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Weiss Ratings upgraded Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Finally, Raymond James Financial reissued an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.88.

About Veeva Systems

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company’s Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.