Massachusetts Financial Services Co. MA Trims Stock Holdings in Veeva Systems Inc. $VEEV

Massachusetts Financial Services Co. MA lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,854,732 shares of the technology company’s stock after selling 310,379 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Veeva Systems were worth $822,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Trust Co. of Toledo NA OH purchased a new position in shares of Veeva Systems in the 2nd quarter worth $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Veeva Systems during the 2nd quarter valued at about $32,000. Maseco LLP purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at about $35,000. Ameritas Advisory Services LLC bought a new position in shares of Veeva Systems in the 2nd quarter worth approximately $68,000. Finally, ORG Partners LLC lifted its stake in shares of Veeva Systems by 176.3% in the 2nd quarter. ORG Partners LLC now owns 315 shares of the technology company’s stock worth $89,000 after purchasing an additional 201 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group upped their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Wells Fargo & Company upped their price objective on Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. BMO Capital Markets initiated coverage on Veeva Systems in a research report on Thursday. They set a “market perform” rating and a $300.00 target price on the stock. Canaccord Genuity Group raised their price objective on Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. Finally, Barclays boosted their price objective on Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $307.28.

Insider Buying and Selling

In related news, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the completion of the transaction, the insider directly owned 25,325 shares of the company’s stock, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 3,350 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the transaction, the insider owned 23,773 shares in the company, valued at $7,132,850.92. The trade was a 12.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,665 shares of company stock worth $7,438,000 over the last three months. 10.30% of the stock is owned by insiders.

Veeva Systems Stock Up 0.5%

Shares of Veeva Systems stock opened at $293.24 on Friday. The firm has a market cap of $48.06 billion, a price-to-earnings ratio of 60.21, a PEG ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $201.54 and a twelve month high of $310.50. The business has a 50-day moving average price of $288.89 and a 200-day moving average price of $277.35.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.64). Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The firm had revenue of $789.08 million for the quarter, compared to analysts’ expectations of $768.49 million. During the same period last year, the company earned $1.62 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. On average, equities analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.