Veeva Systems (NYSE:VEEV) Stock: Insider Jonathan Faddis Sells 5,198 Shares

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 5,198 shares of the stock in a transaction dated 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 sale, the senior vice president owned 4,130 shares of the company’s stock, valued at $1,237,843.60. This represents a 55.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veeva Systems Price Performance

Veeva Systems stock traded down $2.13 during trading hours on Friday, reaching $310.90. The company had a trading volume of 1,729,959 shares, compared to its average volume of 2,327,165. The company has a 50-day moving average price of $268.19 and a 200 day moving average price of $207.22. The firm has a market cap of $50.34 billion, a price-to-earnings ratio of 51.14, a P/E/G ratio of 1.27 and a beta of 0.93. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $319.95.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The firm had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same quarter in the prior year, the firm posted $1.99 earnings per share. 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. As a group, research analysts expect that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Hedge Funds Weigh In On Veeva Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fundsmith LLP purchased a new stake in Veeva Systems in the second quarter worth about $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 valued at $160,427,000 after acquiring an additional 611,868 shares in the last quarter. Swedbank AB grew its holdings in shares of 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 acquiring an additional 498,971 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of 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 period. Finally, Pacer Advisors Inc. raised its position in shares of Veeva Systems by 757.5% in 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 in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BMO Capital Markets boosted their price target on Veeva Systems from $175.00 to $270.00 and gave the company a “market perform” rating in a report on Thursday, August 27th. Citigroup upped their price target on Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. Piper Sandler increased their price objective on Veeva Systems from $295.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Wells Fargo & Company reiterated an “overweight” rating and issued a $330.00 price objective on shares of Veeva Systems in a report on Tuesday, September 8th. Finally, Weiss Ratings upgraded Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $285.92.

About Veeva Systems

Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.

The company’s product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.

Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.