Veeva Systems Inc. $VEEV Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 17.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,367,552 shares of the technology company’s stock after selling 487,180 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Veeva Systems were worth $705,317,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Veeva Systems by 23.5% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,294 shares of the technology company’s stock worth $1,278,000 after purchasing an additional 818 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Veeva Systems by 2.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 7,360 shares of the technology company’s stock valued at $2,193,000 after buying an additional 186 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Veeva Systems by 5.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 22,488 shares of the technology company’s stock worth $6,699,000 after acquiring an additional 1,096 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in Veeva Systems by 2.3% during the 3rd quarter. Evergreen Capital Management LLC now owns 17,550 shares of the technology company’s stock valued at $5,228,000 after acquiring an additional 401 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its position in Veeva Systems by 10.2% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 938 shares of the technology company’s stock valued at $279,000 after acquiring an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. UBS Group reduced their target price on shares of Veeva Systems from $310.00 to $280.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. BMO Capital Markets initiated coverage on shares of Veeva Systems in a research note on Thursday, November 13th. They issued a “market perform” rating and a $300.00 price target for the company. TD Cowen raised Veeva Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $297.00 to $380.00 in a research report on Tuesday, October 7th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Veeva Systems in a report on Friday, December 12th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $308.04.

Veeva Systems Trading Up 1.5%

Shares of NYSE:VEEV opened at $222.25 on Monday. Veeva Systems Inc. has a 52 week low of $201.54 and a 52 week high of $310.50. The company’s 50 day moving average is $240.03 and its two-hundred day moving average is $268.89. The company has a market cap of $36.53 billion, a PE ratio of 43.24, a P/E/G ratio of 1.64 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last issued its 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 firm had revenue of $0.81 million during the quarter, compared to the consensus estimate of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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 research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems announced that its board has authorized a share repurchase program on Monday, January 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 5.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the sale, the insider owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. This trade represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.30% of the company’s stock.

Veeva Systems Company 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.