Sigma Planning Corp Reduces Holdings in Veeva Systems Inc. $VEEV

Sigma Planning Corp reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 48.6% in the 1st quarter, HoldingsChannel reports. The firm owned 3,410 shares of the technology company’s stock after selling 3,230 shares during the quarter. Sigma Planning Corp’s holdings in Veeva Systems were worth $599,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sivia Capital Partners LLC grew its holdings in Veeva Systems by 225.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after buying an additional 2,164 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Veeva Systems by 44.5% in the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock worth $1,689,000 after acquiring an additional 1,806 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Veeva Systems by 34.6% in the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock valued at $2,543,000 after acquiring an additional 2,272 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Veeva Systems by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock valued at $19,856,000 after acquiring an additional 1,452 shares in the last quarter. Finally, Diversify Wealth Management LLC boosted its stake in shares of Veeva Systems by 5.3% during the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock valued at $3,140,000 after acquiring an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VEEV. Citigroup boosted their target price on shares of Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. BMO Capital Markets lowered their price target on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. BNP Paribas Exane reissued an “outperform” rating and issued a $285.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Oppenheimer restated an “outperform” rating on shares of Veeva Systems in a research report on Monday. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $247.74.

Veeva Systems Stock Up 1.2%

Shares of NYSE VEEV opened at $197.74 on Tuesday. The stock has a market capitalization of $32.12 billion, a PE ratio of 35.25, a P/E/G ratio of 0.84 and a beta of 0.94. The firm has a fifty day moving average of $172.43 and a 200-day moving average of $182.36. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.97 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Equities research analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Veeva Systems Company Profile

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.