Hohimer Wealth Management LLC Makes New $1.45 Million Investment in Veeva Systems Inc. $VEEV

Hohimer Wealth Management LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,083 shares of the technology company’s stock, valued at approximately $1,451,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VEEV. Investment Research & Advisory Group Inc. increased its position in Veeva Systems by 0.4% in the 3rd quarter. Investment Research & Advisory Group Inc. now owns 12,942 shares of the technology company’s stock valued at $3,699,000 after acquiring an additional 51 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Veeva Systems by 0.9% in 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. Lodestone Wealth Management LLC raised its stake in shares of Veeva Systems by 68.3% in the third quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock worth $39,000 after acquiring an additional 56 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in shares of Veeva Systems by 1.2% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,664 shares of the technology company’s stock worth $1,331,000 after purchasing an additional 57 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Veeva Systems by 4.9% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,212 shares of the technology company’s stock worth $346,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $330.00 price target (up from $320.00) on shares of Veeva Systems in a research note on Tuesday, September 8th. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Guggenheim upped their price objective on Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Evercore upped their price objective on Veeva Systems from $185.00 to $250.00 in a report on Thursday, October 8th. Finally, Barclays lifted their target price on Veeva Systems from $360.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.50.

Insider Buying and Selling 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 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 of the company’s stock, valued at $1,237,843.60. The trade was a 55.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following 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. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 56,789 shares of company stock worth $14,913,889. 10.60% of the stock is currently owned by insiders.

Veeva Systems News Roundup

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

Veeva Systems Trading Up 0.9%

Shares of NYSE VEEV opened at $306.50 on Tuesday. 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 is $289.83 and its 200-day moving average is $212.38. The firm has a market capitalization of $49.63 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Veeva Systems (NYSE:VEEV) last posted its quarterly 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. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business 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 firm posted $1.99 earnings per share. Veeva Systems’s revenue for the quarter was up 17.6% compared to the same quarter last year. 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 research analysts anticipate that Veeva Systems Inc. will post 6.70 earnings per share for the current fiscal year.

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.