Teacher Retirement System of Texas Decreases Position in Veeva Systems Inc. $VEEV

Teacher Retirement System of Texas decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 28.0% in the third quarter, Holdings Channel reports. The firm owned 103,341 shares of the technology company’s stock after selling 40,128 shares during the period. Teacher Retirement System of Texas’ holdings in Veeva Systems were worth $30,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Trust Co. of Toledo NA OH purchased a new stake in Veeva Systems in the second quarter valued at about $29,000. OLD Second National Bank of Aurora acquired a new position in shares of Veeva Systems during the third quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Veeva Systems during the second quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC raised its position in shares of 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 purchasing an additional 49 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Veeva Systems in the 2nd quarter worth approximately $41,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

NYSE VEEV opened at $221.87 on Friday. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50. The company has a market capitalization of $36.47 billion, a PE ratio of 43.16, a P/E/G ratio of 1.66 and a beta of 1.07. The company has a fifty day moving average of $232.59 and a 200 day moving average of $267.03.

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

Veeva Systems declared that its board has authorized a stock repurchase plan on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to repurchase up to 5.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a $330.00 target price on shares of Veeva Systems in a research report on Monday, November 24th. Citigroup lowered their price objective on shares of Veeva Systems from $349.00 to $319.00 and set a “buy” rating for the company in a research note on Monday, November 24th. UBS Group cut 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. TD Cowen upgraded Veeva Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $297.00 to $380.00 in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company dropped their price target on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 25th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.04.

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.