Concurrent Investment Advisors LLC Cuts Stock Holdings in Veeva Systems Inc. $VEEV

Concurrent Investment Advisors LLC lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 20.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 891 shares of the technology company’s stock after selling 233 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Veeva Systems were worth $257,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Abound Financial LLC purchased a new stake in Veeva Systems in the 1st quarter worth $25,000. ORG Partners LLC purchased a new stake in Veeva Systems in the 1st quarter worth $26,000. Trust Co. of Toledo NA OH purchased a new stake in Veeva Systems in the 2nd quarter worth $29,000. Golden State Wealth Management LLC lifted its stake in Veeva Systems by 152.9% in the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Veeva Systems in the 1st quarter worth $32,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.7%

VEEV stock opened at $285.79 on Tuesday. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The stock has a market capitalization of $46.84 billion, a price-to-earnings ratio of 58.68, a price-to-earnings-growth ratio of 2.19 and a beta of 0.98. The firm’s fifty day simple moving average is $283.61 and its two-hundred day simple moving average is $267.83.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.64). Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm had revenue of $789.08 million for the quarter, compared to the consensus estimate of $768.49 million. During the same quarter last year, the firm earned $1.62 EPS. The company’s revenue 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. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VEEV shares. Morgan Stanley upped their price target on shares of Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a research note on Thursday, August 28th. Canaccord Genuity Group upped their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Truist Financial upped their price target 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. TD Cowen raised shares of Veeva Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $297.00 to $380.00 in a research note on Tuesday, October 7th. Finally, Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Seventeen equities research 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 MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $307.58.

Insider Buying and Selling at Veeva Systems

In other news, insider Eleni Nitsa Zuppas sold 6,000 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total value of $1,839,720.00. Following the transaction, the insider directly owned 25,325 shares in the company, valued at approximately $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 14,595 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the completion of the transaction, the senior vice president 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 24,665 shares of company stock worth $7,438,000 over the last quarter. Insiders own 10.30% of the company’s stock.

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.