1,801 Shares in Veeva Systems Inc. $VEEV Purchased by Collaborative Fund Advisors LLC

Collaborative Fund Advisors LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,801 shares of the technology company’s stock, valued at approximately $514,000.

Several other hedge funds also recently modified their holdings of the stock. Chicago Partners Investment Group LLC lifted its stake in Veeva Systems by 0.9% in the third quarter. Chicago Partners Investment Group LLC now owns 5,972 shares of the technology company’s stock valued at $1,929,000 after acquiring an additional 55 shares during the last quarter. Ascent Group LLC acquired a new position in Veeva Systems during the third quarter worth approximately $232,000. MH & Associates Securities Management Corp ADV bought a new stake in Veeva Systems in the third quarter valued at approximately $3,130,000. Rakuten Investment Management Inc. increased its holdings in shares of Veeva Systems by 8.5% during the 3rd quarter. Rakuten Investment Management Inc. now owns 26,793 shares of the technology company’s stock worth $7,464,000 after acquiring an additional 2,096 shares during the last quarter. Finally, Provenance Wealth Advisors LLC increased its holdings in shares of Veeva Systems by 2,192.0% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 573 shares of the technology company’s stock worth $164,000 after acquiring an additional 548 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the transaction, the director owned 3,242 shares in the company, valued at approximately $846,291.68. The trade was a 18.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Schwenger sold 36,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the sale, the insider owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. This trade 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. Insiders have sold a total of 56,789 shares of company stock worth $14,913,889 over the last quarter. Company insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 2.5%

Shares of Veeva Systems stock opened at $310.79 on Thursday. The stock has a market cap of $50.32 billion, a price-to-earnings ratio of 51.12, a P/E/G ratio of 1.29 and a beta of 0.89. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $325.99. The company’s fifty day moving average is $287.53 and its 200 day moving average is $211.07.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $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. As a group, equities analysts anticipate that Veeva Systems Inc. will post 6.70 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and set a $295.00 price objective on shares of Veeva Systems in a research report on Thursday, August 27th. Needham & Company LLC increased their price objective on shares of Veeva Systems from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Robert W. Baird raised their target price on shares of Veeva Systems from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, October 26th. Morgan Stanley boosted their price objective on Veeva Systems from $215.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 27th. Finally, Guggenheim upped their target price on Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $293.21.

About Veeva Systems

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.