TimesSquare Capital Management LLC Has $129.01 Million Stock Position in Veeva Systems Inc. $VEEV

TimesSquare Capital Management LLC trimmed its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.4% during the third quarter, Holdings Channel reports. The institutional investor owned 433,034 shares of the technology company’s stock after selling 19,724 shares during the period. Veeva Systems makes up about 1.8% of TimesSquare Capital Management LLC’s holdings, making the stock its 5th largest position. TimesSquare Capital Management LLC’s holdings in Veeva Systems were worth $129,005,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VEEV. Alphinity Investment Management Pty Ltd bought a new position in shares of Veeva Systems during the 3rd quarter valued at about $422,241,000. Norges Bank acquired a new position in Veeva Systems in the second quarter worth approximately $384,265,000. Durable Capital Partners LP acquired a new position in Veeva Systems in the second quarter worth approximately $281,351,000. AQR Capital Management LLC lifted its position in shares of Veeva Systems by 111.7% during the 2nd 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 during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Veeva Systems by 1,039.4% in the 2nd 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. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $174.42 on Friday. The company has a market cap of $28.67 billion, a P/E ratio of 33.93, a P/E/G ratio of 1.20 and a beta of 1.08. The stock’s 50-day moving average is $216.14 and its 200-day moving average is $257.56. Veeva Systems Inc. has a 52-week low of $168.13 and a 52-week high of $310.50.

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

Veeva Systems announced that its board has initiated a share repurchase plan on Monday, January 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 5.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on VEEV. BTIG Research reaffirmed a “buy” rating and set a $340.00 target price on shares of Veeva Systems in a report on Friday, November 21st. Barclays dropped their target price on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Needham & Company LLC restated a “buy” rating and issued a $355.00 price target on shares of Veeva Systems in a research 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. Finally, BMO Capital Markets assumed coverage on Veeva Systems in a report on Thursday, November 13th. They issued a “market perform” rating and a $300.00 target price for the company. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $308.04.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction dated Tuesday, January 13th. The shares were 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. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.30% of the company’s stock.

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.