Boston Trust Walden Corp Sells 2,777 Shares of Veeva Systems Inc. $VEEV

Boston Trust Walden Corp decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 12.7% in the third quarter, Holdings Channel reports. The firm owned 19,139 shares of the technology company’s stock after selling 2,777 shares during the period. Boston Trust Walden Corp’s holdings in Veeva Systems were worth $5,463,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its stake in shares of Veeva Systems by 0.9% during the third quarter. Chicago Partners Investment Group LLC now owns 5,972 shares of the technology company’s stock worth $1,929,000 after acquiring an additional 55 shares during the last quarter. Ascent Group LLC purchased a new stake in shares of Veeva Systems during the third quarter valued at $232,000. MH & Associates Securities Management Corp ADV acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $3,130,000. Rakuten Investment Management Inc. increased its position in shares of Veeva Systems by 8.5% in the 3rd quarter. Rakuten Investment Management Inc. now owns 26,793 shares of the technology company’s stock valued at $7,464,000 after acquiring an additional 2,096 shares during the period. Finally, Provenance Wealth Advisors LLC increased its position in shares of Veeva Systems by 2,192.0% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 573 shares of the technology company’s stock valued at $164,000 after acquiring an additional 548 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Veeva Systems

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

• Positive Sentiment: Royal Bank of Canada raised its price target to $365 from $325 and reiterated an “outperform” rating, implying about 20% upside from the cited $304.23 share price. Royal Bank of Canada recommendations
• Positive Sentiment: Needham raised its target to $360 from $310 and maintained a “buy” rating, citing about 18% potential upside from $304.23. Needham recommendations
• Positive Sentiment: Stifel lifted its price target to $340 from $300, adding to the wave of upward target revisions. Stifel raises Veeva price target
• Positive Sentiment: UCB selected Veeva Vault CRM as a core platform for its commercial operations and plans to use industry-specific AI for product launches and customer engagement. The deal supports Veeva’s positioning as a specialized technology provider for life sciences companies. Veeva becomes core CRM choice for major biopharma AI rollout

Veeva Systems Stock Down 1.9%

Shares of VEEV opened at $304.23 on Friday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $325.99. The company has a market capitalization of $49.26 billion, a price-to-earnings ratio of 50.04, a PEG ratio of 1.31 and a beta of 0.89. The stock’s 50-day moving average price is $289.24 and its 200-day moving average price is $211.95.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same period in the previous year, the company posted $1.99 earnings per share. Veeva Systems’s revenue for the quarter 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. As a group, equities analysts anticipate that Veeva Systems Inc. will post 6.70 EPS for the current fiscal year.

Insider Activity

In other news, SVP Jonathan Faddis sold 5,198 shares of Veeva Systems stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 4,130 shares of the company’s stock, valued at $1,237,843.60. The trade was a 55.72% decrease in their position. The transaction 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, 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 transaction, the director owned 3,242 shares of the company’s stock, valued at approximately $846,291.68. This represents a 18.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 56,789 shares of company stock valued at $14,913,889 in the last quarter. Company insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on VEEV shares. JPMorgan Chase & Co. lifted their price target on Veeva Systems from $272.00 to $299.00 in a research report on Thursday, August 27th. BMO Capital Markets raised their price objective on Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a research note on Thursday, August 27th. Robert W. Baird increased their price target on shares of Veeva Systems from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, October 26th. Weiss Ratings raised shares of Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Veeva Systems from $165.00 to $180.00 in a research note on Thursday, August 27th. Nineteen investment 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’s stock. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $309.08.

About Veeva Systems

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.