Bank of New York Mellon Corp Decreases Stake in Veeva Systems Inc. $VEEV

Bank of New York Mellon Corp cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 573,979 shares of the technology company’s stock after selling 61,978 shares during the period. Bank of New York Mellon Corp’s holdings in Veeva Systems were worth $170,994,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at about $384,265,000. Durable Capital Partners LP purchased a new position in shares of Veeva Systems during the second quarter valued at approximately $281,351,000. AQR Capital Management LLC lifted its position in Veeva Systems by 111.7% during the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock valued at $526,508,000 after purchasing an additional 969,905 shares during the period. Schroder Investment Management Group boosted its holdings in Veeva Systems by 1,039.4% in the second quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock worth $292,292,000 after purchasing an additional 925,896 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Veeva Systems by 423.8% in the second quarter. Los Angeles Capital Management LLC now owns 841,303 shares of the technology company’s stock worth $242,278,000 after purchasing an additional 680,702 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research reports. Weiss Ratings lowered shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Truist Financial upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Thursday, January 8th. Wells Fargo & Company reduced their price objective on shares of Veeva Systems from $341.00 to $333.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research note on Friday, October 17th. Finally, Barclays cut their price objective on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating for the company in a report on Friday, November 21st. Eighteen 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. According to MarketBeat, 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 business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the transaction, the insider owned 23,204 shares in the company, valued at $5,370,101.72. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Stock Down 2.8%

NYSE VEEV opened at $204.08 on Friday. Veeva Systems Inc. has a 52 week low of $201.54 and a 52 week high of $310.50. The company has a fifty day moving average of $227.25 and a two-hundred day moving average of $264.72. The firm has a market capitalization of $33.55 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 1.55 and a beta of 1.07.

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

Veeva Systems announced 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 purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management 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.