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

Brown Capital Management LLC cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 34.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 363,997 shares of the technology company’s stock after selling 192,855 shares during the period. Veeva Systems accounts for 4.5% of Brown Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Brown Capital Management LLC’s holdings in Veeva Systems were worth $108,438,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Sivia Capital Partners LLC increased its position in shares of Veeva Systems by 225.9% during the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock worth $899,000 after acquiring an additional 2,164 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Veeva Systems during the 2nd quarter worth about $68,000. QRG Capital Management Inc. increased its holdings in Veeva Systems by 15.7% during the 2nd quarter. QRG Capital Management Inc. now owns 12,771 shares of the technology company’s stock worth $3,678,000 after purchasing an additional 1,735 shares during the period. Valley National Advisers Inc. raised its position in Veeva Systems by 9.0% in the 2nd quarter. Valley National Advisers Inc. now owns 2,160 shares of the technology company’s stock valued at $622,000 after purchasing an additional 178 shares in the last quarter. Finally, Slow Capital Inc. boosted its stake in shares of Veeva Systems by 1.7% in the 2nd quarter. Slow Capital Inc. now owns 24,464 shares of the technology company’s stock valued at $7,045,000 after buying an additional 417 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the business’s 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 sale, the insider owned 23,204 shares in the company, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $355.00 target price on shares of Veeva Systems in a report on Friday, November 21st. William Blair reissued an “outperform” rating on shares of Veeva Systems in a research report on Friday, October 17th. Citigroup reduced their price objective on shares of Veeva Systems from $349.00 to $319.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Canaccord Genuity Group reissued a “buy” rating on shares of Veeva Systems in a report on Tuesday, November 25th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $308.04.

Veeva Systems Price Performance

NYSE VEEV opened at $203.14 on Tuesday. The firm’s fifty day moving average price is $226.59 and its 200 day moving average price is $263.97. Veeva Systems Inc. has a 12 month low of $200.24 and a 12 month high of $310.50. The company has a market capitalization of $33.39 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.09. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The company had revenue of $0.81 million during the quarter, compared to the consensus estimate of $792.37 million. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Veeva Systems’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. As a group, sell-side analysts forecast 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 repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Veeva Systems

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.