Insider Selling: Veeva Systems (NYSE:VEEV) Director Sells $195,780.00 in Stock

Veeva Systems Inc. (NYSE:VEEV) Director Priscilla Hung sold 750 shares of the 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 transaction, the director directly owned 3,242 shares in the company, valued at approximately $846,291.68. This represents a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Veeva Systems Stock Down 0.0%

Shares of VEEV stock opened at $262.30 on Monday. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The company has a market capitalization of $42.47 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The firm has a 50 day moving average price of $228.50 and a two-hundred day moving average price of $191.08.

Veeva Systems (NYSE:VEEV) last announced its earnings results 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 company had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last 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. As a group, research analysts expect that Veeva Systems Inc. will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VEEV shares. BNP Paribas Exane reissued an “outperform” rating and issued a $285.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $330.00 price target on shares of Veeva Systems in a research report on Tuesday, September 8th. Mizuho lifted their price objective on shares of Veeva Systems from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Stifel Nicolaus set a $300.00 price objective on shares of Veeva Systems in a report on Thursday, August 27th. Finally, Piper Sandler increased their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $284.88.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in Veeva Systems by 16,590.3% during the second quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company’s stock worth $6,990,228,000 after purchasing an additional 39,152,230 shares during the period. Norges Bank acquired a new stake in Veeva Systems during the fourth quarter worth about $332,412,000. Durable Capital Partners LP bought a new position in Veeva Systems in the 2nd quarter valued at about $281,351,000. Fundsmith LLP bought a new position in Veeva Systems in the 2nd quarter valued at about $144,955,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Veeva Systems by 203.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after buying an additional 611,868 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

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.