Veeva Systems Inc. $VEEV Stock Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 20.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,697 shares of the technology company’s stock after selling 57,304 shares during the period. Russell Investments Group Ltd. owned approximately 0.14% of Veeva Systems worth $64,241,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Czech National Bank acquired a new position in Veeva Systems during the second quarter valued at approximately $7,584,000. Vulcan Value Partners LLC bought a new stake in Veeva Systems during the second quarter worth $3,769,000. Westwind Capital bought a new stake in Veeva Systems during the third quarter worth $1,684,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at $1,179,000. Finally, East Coast Asset Management LLC. acquired a new stake in shares of Veeva Systems in the 1st quarter valued at $1,665,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Down 0.3%

Shares of NYSE:VEEV traded down $0.93 during trading on Friday, hitting $301.49. 750,106 shares of the company were exchanged, compared to its average volume of 1,425,373. The business’s 50 day moving average is $291.52 and its 200-day moving average is $214.01. The company has a market capitalization of $48.81 billion, a P/E ratio of 49.59, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $325.99.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. Veeva Systems’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $1.99 EPS. 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, sell-side analysts anticipate that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 3,242 shares of the company’s stock, valued at $846,291.68. This represents a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the completion of the transaction, the insider owned 19,449 shares of the company’s stock, valued at approximately $5,471,587.17. This trade represents a 33.96% 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. Over the last ninety days, insiders sold 20,789 shares of company stock valued at $5,905,609. Company insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on VEEV. Oppenheimer reissued an “outperform” rating and set a $325.00 price target (up from $300.00) on shares of Veeva Systems in a report on Thursday, October 15th. Citigroup raised their price objective on Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Weiss Ratings raised Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Wells Fargo & Company lifted their target price on Veeva Systems from $330.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Royal Bank Of Canada boosted their target price on Veeva Systems from $325.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, November 6th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $317.42.

Veeva Systems 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.