Veeva Systems Inc. $VEEV Shares Sold by Hartline Investment Corp

Hartline Investment Corp trimmed its position in Veeva Systems Inc. (NYSE:VEEV) by 66.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,324 shares of the technology company’s stock after selling 14,410 shares during the period. Hartline Investment Corp’s holdings in Veeva Systems were worth $1,635,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its position in Veeva Systems by 5.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,020 shares of the technology company’s stock worth $897,000 after purchasing an additional 224 shares during the period. Jefferies Financial Group Inc. lifted its position in Veeva Systems by 159.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 11,356 shares of the technology company’s stock worth $2,535,000 after purchasing an additional 6,986 shares during the period. MQS Management LLC acquired a new stake in Veeva Systems in the fourth quarter worth approximately $271,000. Cumberland Partners Ltd lifted its position in Veeva Systems by 67.7% in the fourth quarter. Cumberland Partners Ltd now owns 26,000 shares of the technology company’s stock worth $5,804,000 after purchasing an additional 10,500 shares during the period. Finally, Americana Partners LLC increased its holdings in shares of Veeva Systems by 44.8% in the fourth quarter. Americana Partners LLC now owns 2,253 shares of the technology company’s stock valued at $503,000 after buying an additional 697 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director directly owned 3,253 shares of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

Veeva Systems Stock Up 1.3%

Shares of NYSE:VEEV opened at $160.40 on Friday. The company’s fifty day moving average is $168.39 and its two-hundred day moving average is $204.33. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50. The company has a market cap of $26.20 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 0.71 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. During the same period in the previous year, the business earned $1.74 EPS. The company’s revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Equities research analysts anticipate that Veeva Systems Inc. will post 6.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Veeva Systems from $333.00 to $317.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Morgan Stanley upped their price target on Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Citigroup cut Veeva Systems from a “buy” rating to a “neutral” rating and dropped their price target for the company from $291.00 to $176.00 in a report on Friday, April 10th. Truist Financial reaffirmed a “buy” rating and issued a $262.00 price target (down from $275.00) on shares of Veeva Systems in a report on Thursday, March 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.52.

Veeva Systems Company Profile

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.