Key Points
- Veeva EVP Daniel Rizzo sold 4,841 shares at an average price of $276.51, totaling approximately $1.34 million. The filing said the sale covered tax-withholding obligations tied to vested equity awards, leaving him with 7,665 shares.
- Veeva reported stronger-than-expected quarterly results, with EPS of $2.35 versus the $2.23 consensus and revenue of $927.96 million, up 17.6% year over year.
- Analysts maintain a generally positive view, with 19 Buy, eight Hold and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $284.88.
Veeva Systems Inc. (NYSE:VEEV - Get Free Report) EVP Daniel Rizzo sold 4,841 shares of the stock in a transaction dated Friday, October 2nd. The stock was 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 in the company, valued at approximately $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Veeva Systems Stock Up 3.7%
NYSE:VEEV opened at $283.33 on Tuesday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The stock's 50-day moving average price is $254.38 and its 200-day moving average price is $200.84. The stock has a market capitalization of $45.87 billion, a PE ratio of 46.60, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the prior year, the business 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. Sell-side analysts expect that Veeva Systems Inc. will post 6.7 earnings per share for the current fiscal year.
Institutional Trading of Veeva Systems
A number of hedge funds and other institutional investors have recently modified their holdings of VEEV. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Veeva Systems by 8.4% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 776 shares of the technology company's stock valued at $173,000 after acquiring an additional 60 shares during the period. Argos Wealth Advisors LLC lifted its stake in Veeva Systems by 3.9% during the first quarter. Argos Wealth Advisors LLC now owns 1,720 shares of the technology company's stock worth $302,000 after purchasing an additional 65 shares during the period. Cim LLC lifted its stake in Veeva Systems by 1.2% during the first quarter. Cim LLC now owns 5,778 shares of the technology company's stock worth $1,015,000 after purchasing an additional 66 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in Veeva Systems by 4.1% during the second quarter. Concurrent Investment Advisors LLC now owns 1,813 shares of the technology company's stock valued at $322,000 after purchasing an additional 71 shares in the last quarter. Finally, GC Wealth Management RIA LLC boosted its holdings in Veeva Systems by 3.9% during the first quarter. GC Wealth Management RIA LLC now owns 1,936 shares of the technology company's stock valued at $340,000 after purchasing an additional 73 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on VEEV shares. Needham & Company LLC lifted their price target on shares of Veeva Systems from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Thursday, August 27th. Jefferies Financial Group reaffirmed a "buy" rating and set a $295.00 price objective on shares of Veeva Systems in a report on Thursday, August 27th. BMO Capital Markets boosted their target price on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a "market perform" rating in a research note on Thursday, August 27th. Piper Sandler upped their price target on shares of Veeva Systems from $295.00 to $320.00 and gave the stock an "overweight" rating in a research report on Thursday, August 27th. Finally, Robert W. Baird raised their price target on shares of Veeva Systems from $260.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus target price of $284.88.
Read Our Latest Analysis on Veeva Systems
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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