Veeva Systems Inc. $VEEV Stock Acquired by Nemes Rush Group LLC

Nemes Rush Group LLC increased its position in Veeva Systems Inc. (NYSE:VEEV) by 32,392.3% in the third quarter, Holdings Channel reports. The firm owned 4,224 shares of the technology company’s stock after purchasing an additional 4,211 shares during the quarter. Nemes Rush Group LLC’s holdings in Veeva Systems were worth $1,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investment Research & Advisory Group Inc. lifted its holdings in Veeva Systems by 0.4% during the 3rd quarter. Investment Research & Advisory Group Inc. now owns 12,942 shares of the technology company’s stock worth $3,699,000 after buying an additional 51 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Veeva Systems by 0.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,972 shares of the technology company’s stock valued at $1,929,000 after acquiring an additional 55 shares during the last quarter. Lodestone Wealth Management LLC raised its position in shares of Veeva Systems by 68.3% during the 3rd quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock valued at $39,000 after acquiring an additional 56 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in shares of Veeva Systems by 1.2% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,664 shares of the technology company’s stock valued at $1,331,000 after acquiring an additional 57 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in shares of Veeva Systems by 4.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,212 shares of the technology company’s stock valued at $346,000 after acquiring an additional 57 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Key Stories Impacting Veeva Systems

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

• Positive Sentiment: Several analysts raised their targets. Truist lifted its target to $360 from $305 and maintained a buy rating; BTIG raised its target to $360 from $340. Another report cited a $375 target, while Needham was also reported as expecting shares to rise. The higher targets signal improved potential upside in analysts’ views. Truist price-target report BTIG price-target report Report on $375 target Needham analyst report
• Neutral Sentiment: Canaccord raised its target but kept a hold rating. The firm increased its price target to $315 from $260, a more cautious stance than the bullish revisions and a target relatively close to the cited share price. Canaccord price-target report
• Neutral Sentiment: Veeva is retesting a technical buy point. IBD named the stock its “Stock of the Day” and noted it is pressing against resistance at its 21-day moving average, which could limit near-term momentum. The coverage also references a $6 billion view. IBD article on Veeva

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Nicolaus set a $300.00 price objective on shares of Veeva Systems in a report on Thursday, August 27th. Jefferies Financial Group raised their price target on shares of Veeva Systems from $295.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings upgraded shares of Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Needham & Company LLC lifted their price target on shares of Veeva Systems from $310.00 to $360.00 and gave the company a “buy” rating in a report on Friday. Finally, BTIG Research boosted their price objective on shares of Veeva Systems from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Monday. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.50.

Veeva Systems Price Performance

NYSE:VEEV opened at $306.50 on Tuesday. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $325.99. The firm has a market capitalization of $49.63 billion, a P/E ratio of 50.41, a P/E/G ratio of 1.33 and a beta of 0.89. The business has a 50 day simple moving average of $289.83 and a 200 day simple moving average of $212.38.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data 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 return on equity of 14.25% and a net margin of 29.34%. The firm had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same period in the prior year, the business earned $1.99 EPS. The firm’s revenue was up 17.6% on a year-over-year basis. 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. Research analysts anticipate that Veeva Systems Inc. will post 6.70 EPS for the current fiscal year.

Insider Activity

In other news, EVP Daniel Rizzo sold 4,841 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 7,665 shares in the company, valued at approximately $2,119,449.15. This represents a 38.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jonathan Faddis sold 5,198 shares of the stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $299.72, for a total transaction of $1,557,944.56. Following the completion of the sale, the senior vice president directly owned 4,130 shares in the company, valued at approximately $1,237,843.60. This trade represents a 55.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 56,789 shares of company stock worth $14,913,889 over the last ninety days. Insiders own 10.60% of the company’s stock.

Veeva Systems Company 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.