Veeva Systems Inc. $VEEV Stock Holdings Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 302,770 shares of the technology company’s stock after selling 34,421 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Veeva Systems were worth $86,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Veeva Systems during the 3rd quarter worth approximately $14,219,000. ProShare Advisors LLC boosted its position in shares of Veeva Systems by 0.9% in the third quarter. ProShare Advisors LLC now owns 24,304 shares of the technology company’s stock worth $6,938,000 after purchasing an additional 210 shares during the period. Americana Partners LLC boosted its position in shares of Veeva Systems by 1.4% in the third quarter. Americana Partners LLC now owns 4,694 shares of the technology company’s stock worth $1,340,000 after purchasing an additional 67 shares during the period. Avestar Capital LLC bought a new position in shares of Veeva Systems in the third quarter worth approximately $3,704,000. Finally, Renaissance Investment Group LLC purchased a new stake in shares of Veeva Systems in the third quarter worth $3,042,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 5,198 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total value of $1,557,944.56. Following the sale, the senior vice president owned 4,130 shares in the company, valued at $1,237,843.60. The trade was a 55.72% decrease in their position. The sale was disclosed in a document filed 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, EVP Daniel Rizzo sold 4,841 shares of the 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 transaction, the executive vice president directly owned 7,665 shares of the company’s stock, valued at $2,119,449.15. This trade 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. Insiders have sold 56,789 shares of company stock worth $14,913,889 in the last quarter. 10.60% of the stock is owned by company insiders.

Veeva Systems Price Performance

Veeva Systems stock opened at $307.30 on Tuesday. The stock has a market cap of $49.75 billion, a P/E ratio of 50.54, a PEG ratio of 1.36 and a beta of 0.93. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $325.99. The firm’s 50 day moving average price is $285.16 and its 200-day moving average price is $210.19.

Veeva Systems (NYSE:VEEV) last issued its 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 firm had revenue of $927.96 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business 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. As a group, equities analysts expect that Veeva Systems Inc. will post 6.70 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VEEV. Robert W. Baird lifted their target price on shares of Veeva Systems from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, October 26th. Barclays increased their price target on Veeva Systems from $360.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Royal Bank Of Canada raised their price target on Veeva Systems from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Citigroup raised their price target on Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $295.00 price objective on shares of Veeva Systems in a research report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $293.21.

Veeva Systems Company 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.