Westfield Capital Management Co. LP Lowers Position in Veeva Systems Inc. $VEEV

Westfield Capital Management Co. LP trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 217,754 shares of the technology company’s stock after selling 8,815 shares during the quarter. Westfield Capital Management Co. LP owned 0.13% of Veeva Systems worth $64,871,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. GPS Wealth Strategies Group LLC increased its position in shares of Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after acquiring an additional 55 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Veeva Systems during the 3rd quarter worth approximately $28,000. OLD Second National Bank of Aurora acquired a new stake in Veeva Systems in the 3rd quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in Veeva Systems in the second quarter valued at approximately $32,000. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in Veeva Systems by 58.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock worth $38,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Key Veeva Systems News

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

• Positive Sentiment: Sector relief from Nvidia comments — Nvidia CEO Jensen Huang dismissed fears that AI will cannibalize enterprise software, lifting software names including Veev as investors rotated back into high?quality SaaS names. Veeva Systems, Upstart, Paycom, Commvault, and Agilysys Shares Skyrocket, What You Need To Know
• Positive Sentiment: New product launch — Veeva rolled out “eSource” to streamline clinical trial data capture, which can deepen its clinical cloud footprint and support recurring software revenue. Veeva Systems Inc. (VEEV) Launches eSource to Streamline Clinical Trial Data
• Positive Sentiment: Buyback and estimates in focus — renewed investor attention on a US$2B share buyback and upward estimate revisions ahead of earnings supported valuation debates and likely bolstered demand into the print. A Look At Veeva Systems (VEEV) Valuation As Buyback And Earnings Expectations Renew Investor Focus
• Neutral Sentiment: Trending / interest pieces — Veeva has been a trending ticker on sites like Zacks as retail and institutional attention increases; these stories summarize fundamentals and risks but don’t provide new catalysts. Veeva Systems Inc. (VEEV) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Other market context — wider coverage of software and AI plays (e.g., Navan) is keeping sector flows volatile; useful for context but not directly about Veev. Navan Stock Down 60% From $25 IPO, but This $274 Million Stake Signals Conviction
• Negative Sentiment: Analyst caution — Barclays issued a pessimistic forecast for Veev, adding downward pressure through media coverage and investor attention to downside risk. Barclays Issues Pessimistic Forecast for Veeva Systems (NYSE:VEEV) Stock Price
• Negative Sentiment: Price target cuts from brokers — Stifel cut its target (from $320 to $212) and Oppenheimer trimmed its target to $275, creating headline risk despite maintained positive/overweight stances in some cases.
• Negative Sentiment: Rising short interest — short positions jumped ~26% in February (to ~6.33M shares, ~4.3% of float), increasing potential selling pressure and volatility ahead of the quarter.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $330.00 price objective on shares of Veeva Systems in a report on Monday, November 24th. Robert W. Baird raised their price objective on shares of Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a report on Friday, December 12th. Morgan Stanley upgraded shares of Veeva Systems from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $222.00 to $205.00 in a report on Tuesday, February 17th. Finally, BMO Capital Markets started coverage on Veeva Systems in a research report on Thursday, November 13th. They set a “market perform” rating and a $300.00 price objective on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $293.71.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 23,204 shares in the company, valued at $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 available at this hyperlink. 10.30% of the stock is owned by company insiders.

Veeva Systems Stock Up 3.6%

NYSE VEEV opened at $182.84 on Friday. Veeva Systems Inc. has a 52 week low of $168.13 and a 52 week high of $310.50. The firm has a 50 day moving average of $207.69 and a two-hundred day moving average of $251.18. The stock has a market capitalization of $30.06 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 1.22 and a beta of 1.08.

Veeva Systems announced that its Board of Directors has authorized a stock repurchase program on Monday, January 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are 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.