Truist Financial Corp Lowers Holdings in Veeva Systems Inc. $VEEV

Truist Financial Corp lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,440 shares of the technology company’s stock after selling 2,890 shares during the quarter. Truist Financial Corp’s holdings in Veeva Systems were worth $10,856,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings lowered Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Citigroup cut their price target on Veeva Systems from $349.00 to $319.00 and set a “buy” rating for the company in a report on Monday, November 24th. The Goldman Sachs Group started coverage on Veeva Systems in a report on Tuesday, January 13th. They set a “sell” rating and a $215.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research report on Friday, October 17th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a research report on Monday, November 24th. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $308.04.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.30% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $204.08 on Monday. The firm has a market capitalization of $33.55 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 1.51 and a beta of 1.08. The business has a 50 day simple moving average of $227.25 and a 200-day simple moving average of $264.49. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 13.68% and a net margin of 27.93%.Veeva Systems’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. As a group, analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems declared that its board has approved a share repurchase plan on Monday, January 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares buyback plans are typically an indication 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.