Veeva Systems Inc. $VEEV Holdings Lessened by Third View Private Wealth LLC

Third View Private Wealth LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 60.1% in the third quarter, HoldingsChannel reports. The firm owned 2,220 shares of the technology company’s stock after selling 3,341 shares during the quarter. Third View Private Wealth LLC’s holdings in Veeva Systems were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Provenance Wealth Advisors LLC boosted its position in Veeva Systems by 2,192.0% in the third quarter. Provenance Wealth Advisors LLC now owns 573 shares of the technology company’s stock valued at $164,000 after buying an additional 548 shares during the last quarter. IPG Investment Advisors LLC purchased a new position in Veeva Systems during the 3rd quarter worth approximately $2,318,000. BOCHK Asset Management Ltd raised its position in Veeva Systems by 1,320,000.0% during the 3rd quarter. BOCHK Asset Management Ltd now owns 26,402 shares of the technology company’s stock worth $7,536,000 after buying an additional 26,400 shares during the last quarter. Greenleaf Trust raised its position in Veeva Systems by 16.2% during the 3rd quarter. Greenleaf Trust now owns 1,700 shares of the technology company’s stock worth $485,000 after buying an additional 237 shares during the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. acquired a new stake in Veeva Systems during the 3rd quarter valued at approximately $293,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VEEV. Guggenheim upped their price objective on shares of Veeva Systems from $276.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Royal Bank Of Canada increased their price objective on shares of Veeva Systems from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Citigroup boosted their target price on shares of Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. Finally, BMO Capital Markets upped their price target on shares of Veeva Systems from $175.00 to $270.00 and gave the company a “market perform” rating in a report on Thursday, August 27th. Nineteen investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.21.

Insider Activity

In related news, SVP Jonathan Faddis sold 5,198 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total value of $1,557,944.56. Following the completion of the transaction, the senior vice president directly owned 4,130 shares in the company, valued at $1,237,843.60. The trade was a 55.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the stock in a transaction on Wednesday, September 9th. The stock was 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 $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. Insiders sold 56,789 shares of company stock valued at $14,913,889 in the last quarter. Company insiders own 10.60% of the company’s stock.

Veeva Systems Trading Up 2.5%

Shares of VEEV stock opened at $310.79 on Thursday. The stock has a 50 day moving average of $287.53 and a 200 day moving average of $211.07. The stock has a market cap of $50.32 billion, a P/E 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.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The business had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. During the same quarter in the prior year, the firm posted $1.99 EPS. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. 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 fiscal year.

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.