3,954 Veeva Systems Inc. $VEEV Shares Sold by Rockland Trust Co.

Rockland Trust Co. decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 2.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 169,806 shares of the technology company’s stock after selling 3,954 shares during the quarter. Veeva Systems comprises approximately 1.9% of Rockland Trust Co.’s holdings, making the stock its 12th largest position. Rockland Trust Co.’s holdings in Veeva Systems were worth $48,471,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. SHP Wealth Management acquired a new stake in Veeva Systems in the fourth quarter valued at about $26,000. Compass Financial Management LLC acquired a new position in Veeva Systems during the second quarter worth about $27,000. Burkett Financial Services LLC bought a new position in shares of Veeva Systems in the third quarter worth about $27,000. Arlington Trust Co LLC bought a new position in shares of Veeva Systems in the second quarter worth about $29,000. Finally, Field & Main Bank acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 36,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the completion of the sale, the insider owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. This represents a 64.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $195,780.00. Following the completion of the sale, the director directly owned 3,242 shares of the company’s stock, valued at approximately $846,291.68. The trade was a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 46,750 shares of company stock valued at $12,017,360. 10.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VEEV has been the topic of several research reports. BMO Capital Markets lifted their price target on shares of Veeva Systems from $175.00 to $270.00 and gave the company a “market perform” rating in a report on Thursday, August 27th. Guggenheim increased their price objective on shares of Veeva Systems from $276.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Morgan Stanley raised their target price on shares of Veeva Systems from $215.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Weiss Ratings raised shares of Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada upped their price target on shares of Veeva Systems from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $284.88.

Veeva Systems Stock Up 1.4%

NYSE VEEV traded up $3.71 on Monday, hitting $277.04. The company’s stock had a trading volume of 441,643 shares, compared to its average volume of 2,357,317. The company’s 50-day moving average is $252.60 and its 200 day moving average is $200.16. The firm has a market cap of $44.85 billion, a PE ratio of 45.56, a PEG ratio of 1.17 and a beta of 0.93. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. During the same quarter in the previous year, the business earned $1.99 earnings per share. Veeva Systems’s 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. On average, equities analysts expect that Veeva Systems Inc. will post 6.7 EPS for the current year.

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.