Veeva Systems Inc. $VEEV Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,367,552 shares of the technology company’s stock after selling 487,180 shares during the period. Massachusetts Financial Services Co. MA owned 1.44% of Veeva Systems worth $705,317,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in Veeva Systems in the 2nd quarter valued at about $384,265,000. Durable Capital Partners LP acquired a new position in shares of Veeva Systems during the second quarter valued at approximately $281,351,000. AQR Capital Management LLC lifted its position in shares of Veeva Systems by 111.7% in the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock valued at $526,508,000 after acquiring an additional 969,905 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Veeva Systems by 1,039.4% in the second quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock worth $292,292,000 after acquiring an additional 925,896 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Veeva Systems by 423.8% during the second quarter. Los Angeles Capital Management LLC now owns 841,303 shares of the technology company’s stock worth $242,278,000 after purchasing an additional 680,702 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.5%

Veeva Systems stock opened at $222.25 on Monday. The company has a 50-day moving average price of $240.03 and a 200 day moving average price of $268.89. Veeva Systems Inc. has a 12-month low of $201.54 and a 12-month high of $310.50. The stock has a market cap of $36.53 billion, a P/E ratio of 43.24, a PEG ratio of 1.64 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.09. The business had revenue of $0.81 million during the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company 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, analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems declared that its board has approved a share buyback plan on Monday, January 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VEEV. Robert W. Baird raised their price objective on Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Truist Financial raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Thursday, January 8th. BMO Capital Markets started coverage on shares of Veeva Systems in a research note on Thursday, November 13th. They set a “market perform” rating and a $300.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a report on Friday, October 17th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $330.00 target price on shares of Veeva Systems in a research note on Monday, November 24th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $308.04.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the sale, the insider owned 23,204 shares in the company, valued at $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.30% of the stock is currently owned by company insiders.

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.