Veeva Systems Inc. $VEEV Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 433,034 shares of the technology company’s stock after selling 19,724 shares during the period. Veeva Systems accounts for approximately 1.8% of TimesSquare Capital Management LLC’s portfolio, making the stock its 5th biggest holding. TimesSquare Capital Management LLC owned 0.26% of Veeva Systems worth $129,005,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VEEV. Linden Thomas Advisory Services LLC grew its holdings in shares of Veeva Systems by 0.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company’s stock worth $3,707,000 after buying an additional 35 shares in the last quarter. Sigma Planning Corp raised its holdings in Veeva Systems by 1.2% in the 2nd quarter. Sigma Planning Corp now owns 3,328 shares of the technology company’s stock valued at $958,000 after acquiring an additional 39 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Veeva Systems by 17.1% during the 3rd quarter. Private Trust Co. NA now owns 281 shares of the technology company’s stock worth $84,000 after purchasing an additional 41 shares during the period. Keybank National Association OH boosted its holdings in shares of Veeva Systems by 1.4% during the second quarter. Keybank National Association OH now owns 3,088 shares of the technology company’s stock worth $889,000 after purchasing an additional 42 shares during the last quarter. Finally, Baron Wealth Management LLC grew its position in shares of Veeva Systems by 1.7% in the third quarter. Baron Wealth Management LLC now owns 2,447 shares of the technology company’s stock valued at $729,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 23,204 shares of the company’s stock, valued at $5,370,101.72. This represents a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 10.30% of the company’s stock.

Veeva Systems Trading Up 1.4%

Shares of Veeva Systems stock opened at $174.42 on Friday. The stock has a market capitalization of $28.67 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 1.20 and a beta of 1.08. Veeva Systems Inc. has a twelve month low of $168.13 and a twelve month high of $310.50. The business’s 50 day simple moving average is $216.14 and its 200-day simple moving average is $257.56.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The firm had revenue of $0.81 million for the quarter, compared to analyst estimates of $792.37 million. During the same period last year, the company earned $1.75 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. 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. Sell-side analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Jefferies Financial Group reissued a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a research note on Monday, November 24th. Robert W. Baird boosted their target price on shares of Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Wells Fargo & Company cut their price target on shares of Veeva Systems from $341.00 to $333.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 25th. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Barclays cut their target price on Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $308.04.

Veeva Systems Company 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.