Veeva Systems Inc. $VEEV Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,179 shares of the technology company’s stock after selling 12,298 shares during the period. Russell Investments Group Ltd.’s holdings in Veeva Systems were worth $86,735,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new stake in shares of Veeva Systems in the second quarter worth $29,000. Legacy Investment Solutions LLC purchased a new stake in Veeva Systems during the 2nd quarter worth $32,000. Maseco LLP acquired a new stake in Veeva Systems in the 2nd quarter valued at $35,000. Ameritas Advisory Services LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at $68,000. Finally, ORG Partners LLC raised its position in Veeva Systems by 176.3% in the second quarter. ORG Partners LLC now owns 315 shares of the technology company’s stock valued at $89,000 after purchasing an additional 201 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 0.4%

VEEV stock opened at $240.79 on Thursday. The firm has a 50 day simple moving average of $285.60 and a 200-day simple moving average of $278.86. The company has a market capitalization of $39.47 billion, a P/E ratio of 49.44, a PEG ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.09. The firm had revenue of $811.24 million for the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 earnings per share. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS. Q4 2026 guidance at 1.920-1.920 EPS. On average, research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their target price on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research report on Tuesday. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Evercore ISI boosted their target price on shares of Veeva Systems from $285.00 to $295.00 and gave the stock an “in-line” rating in a research report on Thursday, August 28th. Jefferies Financial Group restated a “buy” rating and issued a $330.00 target price on shares of Veeva Systems in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $355.00 price target on shares of Veeva Systems in a research note on Friday, November 21st. Twenty investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $305.88.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 14,595 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the sale, the senior vice president owned 8,588 shares in the company, valued at $2,576,400. This represents a 62.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value of $1,839,720.00. Following the transaction, the insider directly owned 25,325 shares in the company, valued at approximately $7,765,151.50. This represents a 19.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 24,665 shares of company stock valued at $7,438,000. Insiders own 10.30% of the company’s stock.

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.