Veeva Systems Inc. $VEEV Holdings Trimmed by Torray Investment Partners LLC

Torray Investment Partners LLC lessened its holdings in Veeva Systems Inc. (NYSE:VEEV) by 18.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,883 shares of the technology company’s stock after selling 5,006 shares during the period. Torray Investment Partners LLC’s holdings in Veeva Systems were worth $6,519,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Trust Co. of Toledo NA OH purchased a new position in Veeva Systems during the 2nd quarter valued at about $29,000. OLD Second National Bank of Aurora acquired a new stake in shares of Veeva Systems during the third quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in Veeva Systems during the second quarter valued at approximately $32,000. Maseco LLP acquired a new position in Veeva Systems in the 2nd quarter valued at approximately $35,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in Veeva Systems by 58.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 133 shares of the technology company’s stock valued at $38,000 after buying an additional 49 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VEEV shares. Jefferies Financial Group reissued a “buy” rating and set a $330.00 target price on shares of Veeva Systems in a research note on Monday, November 24th. UBS Group dropped their target price on Veeva Systems from $310.00 to $280.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. JPMorgan Chase & Co. upgraded Veeva Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $290.00 to $330.00 in a report on Monday, September 8th. Wells Fargo & Company lowered their price target on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $307.42.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $221.30 on Tuesday. The company has a market capitalization of $36.38 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 1.62 and a beta of 1.07. The stock’s 50 day simple moving average is $250.89 and its 200 day simple moving average is $272.11. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. During the same quarter last year, the company posted $1.75 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. 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. On average, analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems declared that its board has authorized a stock repurchase program on Monday, January 5th that allows the company to buyback $2.00 billion in 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 often a sign that the company’s board believes its shares are undervalued.

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.