Caitong International Asset Management Co. Ltd Lowers Position in Veeva Systems Inc. $VEEV

Caitong International Asset Management Co. Ltd decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 84.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98 shares of the technology company’s stock after selling 527 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Veeva Systems were worth $28,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VEEV. Nuveen LLC purchased a new stake in shares of Veeva Systems in the first quarter valued at about $365,684,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Veeva Systems by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock valued at $924,754,000 after acquiring an additional 689,700 shares in the last quarter. Linonia Partnership LP boosted its holdings in shares of Veeva Systems by 52.7% in the first quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company’s stock valued at $425,402,000 after acquiring an additional 633,585 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Veeva Systems by 48.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,799,931 shares of the technology company’s stock valued at $416,918,000 after acquiring an additional 585,785 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Veeva Systems by 10.7% in the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock valued at $1,273,884,000 after acquiring an additional 532,269 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on VEEV. BTIG Research reissued a “buy” rating and set a $340.00 price objective on shares of Veeva Systems in a report on Friday, October 17th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a report on Friday, October 17th. Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Truist Financial boosted their price objective on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a report on Thursday, August 28th. Finally, Piper Sandler boosted their price objective on shares of Veeva Systems from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $307.58.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the transaction, the insider directly owned 23,773 shares in the company, valued at approximately $7,132,850.92. This represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 14,595 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total value of $4,378,500.00. Following the completion of the sale, the senior vice president directly owned 8,588 shares in the company, valued at approximately $2,576,400. The trade was a 62.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,665 shares of company stock valued at $7,438,000 in the last quarter. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Trading Up 0.6%

Shares of VEEV opened at $293.11 on Monday. The stock has a market cap of $48.04 billion, a P/E ratio of 60.19, a PEG ratio of 2.26 and a beta of 0.98. The company has a 50-day moving average of $284.70 and a two-hundred day moving average of $270.03. Veeva Systems Inc. has a 12-month low of $201.54 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 27th. The technology company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.64). The business had revenue of $789.08 million for the quarter, compared to analyst estimates of $768.49 million. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 EPS. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.