Veeva Systems Inc. $VEEV Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,211,946 shares of the technology company’s stock after selling 4,842 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Veeva Systems were worth $361,051,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

VEEV has been the topic of a number of recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research note on Friday, November 21st. Oppenheimer dropped their target price on shares of Veeva Systems from $325.00 to $275.00 and set an “outperform” rating for the company in a report on Tuesday. Truist Financial raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Thursday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $355.00 price target on shares of Veeva Systems in a report on Friday, November 21st. Finally, Robert W. Baird lifted their price objective on Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $293.71.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $182.84 on Friday. The firm has a market capitalization of $30.06 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 1.22 and a beta of 1.08. Veeva Systems Inc. has a one year low of $168.13 and a one year high of $310.50. The company has a 50 day moving average price of $207.69 and a 200 day moving average price of $251.18.

Veeva Systems declared that its board has approved a stock buyback program on Monday, January 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems 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 transaction, the insider owned 23,204 shares in the company, valued at approximately $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.30% of the stock is currently owned by insiders.

Key Headlines Impacting Veeva Systems

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

• Positive Sentiment: Company authorized a new ~US$2 billion share buyback and analysts have recently revised some estimates upward, supporting renewed investor focus on valuation and capital return. This buyback is being cited as a main catalyst for renewed demand. A Look At Veeva Systems (VEEV) Valuation
• Positive Sentiment: Veeva launched “eSource” to streamline clinical-trial data capture — a product extension that can expand stickiness with life-sciences customers and support subscription revenue growth. Product launches that improve workflow integration are generally positive for recurring SaaS sales. Veeva Systems Inc. (VEEV) Launches eSource
• Positive Sentiment: Market headlines and broad sector flows have highlighted Veeva as a top mover today, helping momentum-driven buying. General coverage pointing to the stock “skyrocketing” has likely amplified intraday demand. Veeva Systems, Upstart, Paycom, Commvault, and Agilysys shares skyrocket
• Neutral Sentiment: Stifel trimmed its price target (from $320 to $212) but retained a Buy rating, signaling mixed analyst sentiment: lower upside expectations but continued buy-side endorsement. Stifel price target change
• Neutral Sentiment: Coverage pieces (Zacks, recent market summaries) note Veeva as a trending name — raising attention but not changing fundamentals by itself. Veeva trending stock note
• Negative Sentiment: Multiple broker price targets were lowered recently (Barclays, Oppenheimer among them), reflecting more cautious medium-term estimates even as most maintain constructive ratings — a headwind for valuation. Barclays price target note Oppenheimer lowers price target
• Negative Sentiment: Short interest rose ~26% in February to roughly 6.33M shares (about 4.3% of float), increasing bearish pressure and potential volatility should sentiment change. (Data reported Feb 13.)

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.