Veeva Systems (NYSE:VEEV) EVP Sells $1,338,584.91 in Stock

by · The Markets Daily

Veeva Systems Inc. (NYSE:VEEV – Get Free Report) EVP Daniel Rizzo sold 4,841 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $276.51, for a total value of $1,338,584.91. Following the completion of the sale, the executive vice president directly owned 7,665 shares in the company, valued at $2,119,449.15. This represents a 38.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Veeva Systems Price Performance

Shares of Veeva Systems stock traded up $10.00 during trading on Monday, hitting $283.33. The stock had a trading volume of 1,318,362 shares, compared to its average volume of 2,361,988. The business has a fifty day moving average of $252.60 and a two-hundred day moving average of $200.16. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The firm has a market cap of $45.87 billion, a P/E ratio of 46.60, a PEG ratio of 1.17 and a beta of 0.93.

Veeva Systems (NYSE:VEEV – Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping 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 firm had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. During the same period in the previous year, the business earned $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, research analysts forecast that Veeva Systems Inc. will post 6.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on VEEV shares. Robert W. Baird lifted their price target on Veeva Systems from $260.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Wells Fargo & Company reiterated an “overweight” rating and set a $330.00 price objective on shares of Veeva Systems in a report on Tuesday, September 8th. Weiss Ratings upgraded shares of Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Piper Sandler upped their price target on Veeva Systems from $295.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Finally, Truist Financial upped their price objective on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $284.88.

Read Our Latest Stock Report on VEEV

Institutional Investors Weigh In On Veeva Systems

Several large investors have recently modified their holdings of the stock. Eastern Bank grew its position in Veeva Systems by 1,142.9% in the third quarter. Eastern Bank now owns 435 shares of the technology company’s stock valued at $124,000 after acquiring an additional 400 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Veeva Systems by 63.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the technology company’s stock valued at $268,000 after buying an additional 363 shares in the last quarter. CX Institutional boosted its position in Veeva Systems by 72.3% in the third quarter. CX Institutional now owns 2,254 shares of the technology company’s stock valued at $643,000 after buying an additional 946 shares in the last quarter. Versant Capital Management Inc grew its stake in Veeva Systems by 57.5% during the third quarter. Versant Capital Management Inc now owns 690 shares of the technology company’s stock worth $197,000 after buying an additional 252 shares during the last quarter. Finally, Burkett Financial Services LLC bought a new stake in Veeva Systems during the third quarter worth about $27,000. 88.20% of the stock is currently owned by institutional investors.

About Veeva Systems

(Get Free Report)

Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.

The company’s product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.

Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.

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