Veeva Systems Inc. $VEEV Stock Position Trimmed by Calamos Wealth Management LLC

Calamos Wealth Management LLC cut its stake in Veeva Systems Inc. (NYSE:VEEV) by 11.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,770 shares of the technology company’s stock after selling 2,255 shares during the period. Calamos Wealth Management LLC’s holdings in Veeva Systems were worth $4,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 7.0% during the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after acquiring an additional 271,252 shares during the period. Amundi boosted its stake in Veeva Systems by 8.0% in the 1st quarter. Amundi now owns 992,977 shares of the technology company’s stock valued at $174,426,000 after purchasing an additional 73,510 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in 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. Royal Bank of Canada grew its holdings in Veeva Systems by 2.7% in the 1st quarter. Royal Bank of Canada now owns 870,281 shares of the technology company’s stock valued at $152,873,000 after buying an additional 23,117 shares in the last quarter. Finally, Fundsmith LLP acquired a new position in Veeva Systems in the 2nd quarter valued at $144,955,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded down $5.87 during midday trading on Friday, reaching $304.23. The stock had a trading volume of 1,746,403 shares, compared to its average volume of 1,508,434. The firm has a market cap of $49.26 billion, a price-to-earnings ratio of 50.04, a price-to-earnings-growth ratio of 1.31 and a beta of 0.89. The company’s 50 day moving average price is $289.24 and its 200 day moving average price is $211.95. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $325.99.

Veeva Systems (NYSE:VEEV) last issued its quarterly 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 firm had revenue of $927.96 million during 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 revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business posted $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. Equities analysts forecast that Veeva Systems Inc. will post 6.70 earnings per share for the current fiscal year.

Veeva Systems News Summary

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to $365 from $325 and reiterated an “outperform” rating, implying about 20% upside from the cited $304.23 share price. Royal Bank of Canada recommendations
• Positive Sentiment: Needham raised its target to $360 from $310 and maintained a “buy” rating, citing about 18% potential upside from $304.23. Needham recommendations
• Positive Sentiment: Stifel lifted its price target to $340 from $300, adding to the wave of upward target revisions. Stifel raises Veeva price target
• Positive Sentiment: UCB selected Veeva Vault CRM as a core platform for its commercial operations and plans to use industry-specific AI for product launches and customer engagement. The deal supports Veeva’s positioning as a specialized technology provider for life sciences companies. Veeva becomes core CRM choice for major biopharma AI rollout

Insiders Place Their Bets

In other news, insider Thomas Schwenger sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the completion of the sale, the insider owned 19,449 shares of the company’s stock, valued at $4,866,723.27. This trade represents a 64.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel Rizzo sold 4,841 shares of Veeva Systems stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the completion of the sale, the executive vice president owned 7,665 shares of the company’s stock, valued at $2,119,449.15. This represents a 38.71% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 56,789 shares of company stock valued at $14,913,889 over the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VEEV. Mizuho set a $345.00 price objective on shares of Veeva Systems in a research note on Thursday, October 29th. Wells Fargo & Company restated an “overweight” rating and set a $330.00 target price (up from $320.00) on shares of Veeva Systems in a research report on Tuesday, September 8th. Oppenheimer reaffirmed an “outperform” rating and set a $325.00 target price (up from $300.00) on shares of Veeva Systems in a report on Thursday, October 15th. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Morgan Stanley raised their price target on shares of Veeva Systems from $215.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $309.08.

Veeva Systems Profile

Veeva Systems Inc develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations.

The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.

Founded in 2007 and headquartered in Pleasanton, California, Veeva serves life sciences companies in markets around the world.