Veeva Systems Inc. $VEEV Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 764,479 shares of the technology company’s stock after selling 28,763 shares during the period. Veeva Systems comprises 2.1% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 14th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.47% of Veeva Systems worth $218,221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fundsmith LLP bought a new position in Veeva Systems in the 2nd quarter valued at approximately $144,955,000. Arrowstreet Capital Limited Partnership boosted its position in Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after buying an additional 611,868 shares during the period. Swedbank AB boosted its position in Veeva Systems by 43.5% during the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock worth $288,983,000 after buying an additional 498,971 shares during the period. Pictet Asset Management Holding SA grew its holdings in Veeva Systems by 43.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock worth $279,970,000 after acquiring an additional 483,720 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Veeva Systems by 757.5% during the 1st quarter. Pacer Advisors Inc. now owns 485,046 shares of the technology company’s stock worth $85,203,000 after acquiring an additional 428,478 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, EVP Daniel J. Rizzo sold 4,841 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 7,665 shares in the company, valued at approximately $2,119,449.15. The trade was a 38.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 sale, the director directly owned 3,242 shares in the company, valued at approximately $846,291.68. This trade represents a 18.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 56,789 shares of company stock valued at $14,913,889. Corporate insiders own 10.60% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $323.31 on Monday. 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 50 day simple moving average of $277.66 and a two-hundred day simple moving average of $213.32. The company has a market cap of $52.35 billion, a P/E ratio of 53.18, a PEG ratio of 1.38 and a beta of 0.93.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) 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 the consensus estimate of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. On average, research analysts predict that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent research reports. Wells Fargo & Company restated an “overweight” rating and issued a $330.00 price target on shares of Veeva Systems in a research report on Tuesday, September 8th. Robert W. Baird raised their price target on shares of Veeva Systems from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Truist Financial lifted their price target on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Guggenheim boosted their price objective on shares of Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Finally, Oppenheimer reissued an “outperform” rating and issued a $325.00 price objective on shares of Veeva Systems in a research note on Thursday, October 15th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $287.79.

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.