12,900 Shares in Veeva Systems Inc. $VEEV Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the second quarter, Holdings Channel reports. The fund bought 12,900 shares of the technology company’s stock, valued at approximately $3,715,000.

Other hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new position in shares of Veeva Systems during the 2nd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new stake in Veeva Systems during the second quarter worth about $32,000. Maseco LLP acquired a new stake in Veeva Systems during the second quarter worth about $35,000. Key Financial Inc raised its position in Veeva Systems by 161.0% during the first quarter. Key Financial Inc now owns 154 shares of the technology company’s stock valued at $36,000 after acquiring an additional 95 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Veeva Systems in the second quarter valued at approximately $68,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the transaction, the insider owned 23,773 shares in the company, valued at $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 14,595 shares of Veeva Systems stock in a transaction that occurred on 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 $2,576,400. This represents a 62.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $295.23 on Friday. The firm has a fifty day moving average of $286.40 and a 200 day moving average of $275.27. The firm has a market cap of $48.39 billion, a PE ratio of 60.62, a PEG ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a one year low of $201.54 and a one year high of $310.50.

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

Wall Street Analyst Weigh In

VEEV has been the topic of several recent research reports. TD Cowen upgraded Veeva Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $297.00 to $380.00 in a research report on Tuesday, October 7th. Truist Financial boosted their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. BTIG Research reissued a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a report on Friday, October 17th. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Piper Sandler upped their price objective on shares of Veeva Systems from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.58.

Veeva Systems Company Profile

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.