Slow Capital Inc. Sells 1,584 Shares of Veeva Systems Inc. $VEEV

Slow Capital Inc. lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.6% during the third quarter, Holdings Channel reports. The firm owned 32,988 shares of the technology company’s stock after selling 1,584 shares during the period. Veeva Systems accounts for about 1.0% of Slow Capital Inc.’s portfolio, making the stock its 29th largest position. Slow Capital Inc.’s holdings in Veeva Systems were worth $9,416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Radnor Capital Management LLC bought a new position in Veeva Systems during the third quarter valued at about $2,560,000. Signaturefd LLC lifted its position in shares of Veeva Systems by 29.8% in the third quarter. Signaturefd LLC now owns 1,510 shares of the technology company’s stock worth $431,000 after buying an additional 347 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Veeva Systems by 29.8% in the third quarter. Citizens Financial Group Inc. RI now owns 7,121 shares of the technology company’s stock worth $2,033,000 after buying an additional 1,636 shares during the last quarter. Sowell Financial Services LLC boosted its stake in shares of Veeva Systems by 14.4% during the 3rd quarter. Sowell Financial Services LLC now owns 2,303 shares of the technology company’s stock worth $657,000 after acquiring an additional 290 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Veeva Systems by 181.8% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock worth $27,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VEEV. Stifel Nicolaus set a $300.00 price objective on Veeva Systems in a report on Thursday, August 27th. Royal Bank Of Canada upped their price target on Veeva Systems from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Guggenheim increased their target price on shares of Veeva Systems from $276.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Needham & Company LLC lifted their price target on shares of Veeva Systems from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Finally, Citigroup upped 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. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $287.79.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $323.31 on Monday. The stock has a market cap of $52.35 billion, a PE ratio of 53.18, a PEG ratio of 1.38 and a beta of 0.93. The business has a fifty day moving average of $277.66 and a two-hundred day moving average of $213.32. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $325.99.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the previous year, the company earned $1.99 EPS. The firm’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. Analysts predict that Veeva Systems Inc. will post 6.70 earnings per share for the current year.

Insider Activity

In other Veeva Systems news, EVP Daniel J. Rizzo sold 4,841 shares of the company’s 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 sale, the executive vice president directly owned 7,665 shares of the company’s stock, valued at approximately $2,119,449.15. This represents a 38.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Thomas D. Schwenger sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the sale, the insider directly owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. The trade was a 64.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 56,789 shares of company stock valued at $14,913,889. Company insiders own 10.60% of the company’s stock.

About Veeva Systems

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.