TD Asset Management Inc Sells 64,385 Shares of Veeva Systems Inc. $VEEV

TD Asset Management Inc lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 18.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 290,183 shares of the technology company’s stock after selling 64,385 shares during the period. TD Asset Management Inc’s holdings in Veeva Systems were worth $64,778,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Veeva Systems by 3.1% during the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after buying an additional 457,806 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Veeva Systems by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after acquiring an additional 235,983 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Veeva Systems by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company’s stock valued at $863,978,000 after acquiring an additional 23,416 shares in the last quarter. State Street Corp raised its holdings in Veeva Systems by 2.2% in the 3rd quarter. State Street Corp now owns 3,503,730 shares of the technology company’s stock valued at $1,043,796,000 after acquiring an additional 76,397 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Veeva Systems by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock valued at $1,035,622,000 after acquiring an additional 159,984 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on VEEV. Barclays cut their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. UBS Group cut their price target on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Veeva Systems in a report on Thursday. Eighteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.96.

Veeva Systems Stock Down 3.2%

Shares of VEEV opened at $172.96 on Friday. The stock has a market cap of $28.25 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 0.79 and a beta of 0.95. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The company has a 50-day moving average price of $166.17 and a two-hundred day moving average price of $195.74.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.89%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.97 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Equities research analysts expect that Veeva Systems Inc. will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Veeva Systems

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Veeva beat Q1 earnings and revenue estimates, with EPS of $2.24 and revenue of $882.9 million, while also raising its fiscal 2027 outlook. Veeva Systems beats estimates on AI progress
• Positive Sentiment: Management highlighted AI momentum, including Falcon AI agents, CRM migration wins, and the Ostro acquisition, suggesting new growth drivers beyond the core platform. Veeva Systems Q1 Earnings Call Highlights AI Push & Higher Outlook
• Positive Sentiment: Several brokers remained constructive, including Barclays, Oppenheimer, RBC, Needham, BTIG, and Robert W. Baird, many of which kept buy/outperform ratings and elevated price targets. Veeva Systems (VEEV) Receives a Buy from Barclays
• Neutral Sentiment: Citigroup raised its target to $190 and maintained a neutral stance, while UBS and Canaccord also trimmed targets but stayed at neutral/hold, reflecting a more mixed Street view. Analyst updates
• Negative Sentiment: Despite the beat-and-raise quarter, the stock sold off as investors likely questioned how much of the AI optimism is already priced in and whether legacy CRM migration dynamics could pressure growth. Is Veeva Stock Undervalued At $170?
• Negative Sentiment: Goldman Sachs cut its price target to $165 and kept a sell rating, adding to the cautious tone around the name. Veeva Systems price target lowered by Goldman Sachs

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.