Veeva Systems Inc. $VEEV Holdings Increased by Cardinal Capital Management

Cardinal Capital Management increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 24.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,971 shares of the technology company’s stock after acquiring an additional 2,334 shares during the period. Cardinal Capital Management’s holdings in Veeva Systems were worth $3,417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Veeva Systems during the 3rd quarter worth approximately $19,896,000. Axxcess Wealth Management LLC purchased a new stake in shares of Veeva Systems in the 3rd quarter valued at approximately $267,000. Crossmark Global Holdings Inc. raised its holdings in shares of Veeva Systems by 32.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,188 shares of the technology company’s stock valued at $1,766,000 after purchasing an additional 1,500 shares in the last quarter. Sowell Financial Services LLC raised its holdings in shares of Veeva Systems by 14.4% in the 3rd quarter. Sowell Financial Services LLC now owns 2,303 shares of the technology company’s stock valued at $657,000 after purchasing an additional 290 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at $532,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VEEV shares. Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Jefferies Financial Group reissued a “buy” rating and issued a $295.00 target price on shares of Veeva Systems in a report on Thursday, August 27th. Royal Bank Of Canada increased their target price on Veeva Systems from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Barclays raised their price target on Veeva Systems from $315.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $330.00 price target on shares of Veeva Systems in a research note on Tuesday, September 8th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $287.79.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 5,198 shares of Veeva Systems stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total transaction of $1,557,944.56. Following the sale, the senior vice president directly owned 4,130 shares in the company, valued at $1,237,843.60. This trade represents a 55.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction 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. This trade represents a 18.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 56,789 shares of company stock valued at $14,913,889. Corporate insiders own 10.60% of the company’s stock.

Veeva Systems Stock Up 0.5%

Shares of VEEV opened at $320.20 on Thursday. The company has a market capitalization of $51.84 billion, a price-to-earnings ratio of 52.66, a price-to-earnings-growth ratio of 1.36 and a beta of 0.93. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $322.99. The stock has a 50 day moving average price of $274.67 and a 200 day moving average price of $211.23.

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, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the company earned $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. On average, equities analysts anticipate that Veeva Systems Inc. will post 6.70 EPS for the current fiscal year.

About Veeva Systems

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.