Tran Capital Management L.P. Sells 12,668 Shares of Veeva Systems Inc. $VEEV

Tran Capital Management L.P. decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 13.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,047 shares of the technology company’s stock after selling 12,668 shares during the quarter. Veeva Systems makes up approximately 3.0% of Tran Capital Management L.P.’s portfolio, making the stock its 12th biggest position. Tran Capital Management L.P.’s holdings in Veeva Systems were worth $24,741,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of VEEV. Norges Bank bought a new position in Veeva Systems in the second quarter valued at about $384,265,000. Durable Capital Partners LP acquired a new stake in Veeva Systems during the 2nd quarter worth approximately $281,351,000. AQR Capital Management LLC grew its holdings in 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 worth $526,508,000 after acquiring an additional 969,905 shares during the last quarter. Schroder Investment Management Group increased its position in 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 valued at $292,292,000 after acquiring an additional 925,896 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of Veeva Systems by 423.8% during the second quarter. Los Angeles Capital Management LLC now owns 841,303 shares of the technology company’s stock valued at $242,278,000 after acquiring an additional 680,702 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VEEV. Robert W. Baird raised their target price on Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Citigroup lowered their price objective on Veeva Systems from $349.00 to $319.00 and set a “buy” rating for the company in a research report on Monday, November 24th. BTIG Research reiterated a “buy” rating and issued a $340.00 target price on shares of Veeva Systems in a report on Friday, November 21st. Wells Fargo & Company decreased their target price on shares of Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of Veeva Systems in a research report on Tuesday, November 25th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.42.

Veeva Systems Stock Performance

Shares of VEEV opened at $239.08 on Thursday. The firm has a market cap of $39.30 billion, a PE ratio of 46.51, a price-to-earnings-growth ratio of 1.76 and a beta of 1.07. Veeva Systems Inc. has a 52-week low of $201.54 and a 52-week high of $310.50. The business’s 50 day moving average price is $248.87 and its two-hundred day moving average price is $271.59.

Veeva Systems (NYSE:VEEV) last posted 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. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The business had revenue of $0.81 million during the quarter, compared to analysts’ expectations of $792.37 million. During the same period last year, the company posted $1.75 earnings per share. The business’s quarterly revenue 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. Research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its Board of Directors has approved a share buyback plan on Monday, January 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology company to buy up to 5.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.