TimesSquare Capital Management LLC Has $91.92 Million Position in Veeva Systems Inc. $VEEV

TimesSquare Capital Management LLC reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 411,769 shares of the technology company’s stock after selling 21,265 shares during the quarter. Veeva Systems accounts for about 1.4% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding. TimesSquare Capital Management LLC’s holdings in Veeva Systems were worth $91,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GPS Wealth Strategies Group LLC raised its holdings in Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after acquiring an additional 55 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in Veeva Systems during the fourth quarter worth about $27,000. Raiffeisen Bank International AG bought a new stake in Veeva Systems during the third quarter worth about $28,000. Newbridge Financial Services Group Inc. raised its holdings in Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Veeva Systems from $333.00 to $317.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Needham & Company LLC dropped their target price on Veeva Systems from $355.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Wall Street Zen lowered Veeva Systems from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. UBS Group upped their target price on Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Stifel Nicolaus upped their target price on Veeva Systems from $212.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Sixteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $276.52.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $163.98 on Tuesday. The company has a market capitalization of $26.78 billion, a P/E ratio of 30.31, a P/E/G ratio of 0.71 and a beta of 0.92. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The business’s 50 day simple moving average is $170.83 and its 200 day simple moving average is $207.29.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, sell-side analysts anticipate that Veeva Systems Inc. will post 6.41 EPS for the current fiscal year.

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.