Allspring Global Investments Holdings LLC Cuts Position in Veeva Systems Inc. $VEEV

Allspring Global Investments Holdings LLC reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 46.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 43,829 shares of the technology company’s stock after selling 38,576 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Veeva Systems were worth $12,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Trust Co. of Toledo NA OH purchased a new stake in Veeva Systems during the second quarter worth approximately $29,000. Legacy Investment Solutions LLC purchased a new position in shares of Veeva Systems in the 2nd quarter valued at $32,000. Maseco LLP acquired a new position in shares of Veeva Systems during the 2nd quarter valued at $35,000. Cary Street Partners Investment Advisory LLC boosted its position in Veeva Systems by 58.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock worth $38,000 after purchasing an additional 49 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Veeva Systems during the 2nd quarter worth $41,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In related news, insider Eleni Nitsa Zuppas sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value of $1,839,720.00. Following the completion of the sale, the insider directly owned 25,325 shares of the company’s stock, valued at $7,765,151.50. The trade was a 19.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.30% of the company’s stock.

Veeva Systems Trading Down 1.7%

Shares of NYSE:VEEV opened at $219.48 on Monday. The company has a fifty day simple moving average of $252.37 and a 200 day simple moving average of $272.53. The firm has a market cap of $36.08 billion, a PE ratio of 42.70, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. Veeva Systems Inc. has a 12-month low of $201.54 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. The firm had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 EPS. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VEEV shares. Robert W. Baird boosted their price objective on Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. upgraded Veeva Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $290.00 to $330.00 in a report on Monday, September 8th. BMO Capital Markets began coverage on Veeva Systems in a research report on Thursday, November 13th. They set a “market perform” rating and a $300.00 price target on the stock. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Citigroup dropped their price objective on shares of Veeva Systems from $349.00 to $319.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $307.42.

Veeva Systems Profile

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.