2,096 Veeva Systems Inc. $VEEV Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its position in Veeva Systems Inc. (NYSE:VEEV) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,793 shares of the technology company’s stock after buying an additional 2,096 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Veeva Systems were worth $7,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Compass Financial Management LLC acquired a new stake in Veeva Systems during the 2nd quarter valued at $27,000. Burkett Financial Services LLC acquired a new position in shares of Veeva Systems during the third quarter valued at $27,000. Farmers & Merchants Investments Inc. grew its holdings in Veeva Systems by 181.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock worth $27,000 after buying an additional 60 shares in the last quarter. Arlington Trust Co LLC bought a new stake in shares of Veeva Systems during the second quarter valued at about $29,000. Finally, Field & Main Bank acquired a new stake in shares of Veeva Systems in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.5%

Shares of VEEV stock opened at $309.14 on Friday. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $325.99. The stock has a 50-day moving average price of $288.82 and a 200 day moving average price of $211.51. The firm has a market cap of $50.05 billion, a price-to-earnings ratio of 50.18, a PEG ratio of 1.33 and a beta of 0.89.

Veeva Systems (NYSE:VEEV) last posted 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 business had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. Veeva Systems’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $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. Sell-side analysts predict that Veeva Systems Inc. will post 6.70 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Guggenheim raised their target price on shares of Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. BMO Capital Markets raised their target price on Veeva Systems from $175.00 to $270.00 and gave the company a “market perform” rating in a report on Thursday, August 27th. Canaccord Genuity Group boosted their price objective on Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Needham & Company LLC raised their price objective on Veeva Systems from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, BNP Paribas Exane raised their target price on Veeva Systems from $285.00 to $300.00 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $300.54.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the sale, the insider owned 19,449 shares of the company’s stock, valued at approximately $5,471,587.17. This trade represents a 33.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Rizzo sold 4,841 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $276.51, for a total value of $1,338,584.91. Following the sale, the executive vice president directly owned 7,665 shares in the company, valued at approximately $2,119,449.15. This represents a 38.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 56,789 shares of company stock valued at $14,913,889. Insiders own 10.60% of the company’s stock.

Veeva Systems Profile

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.