Comerica Bank Sells 20,730 Shares of Veeva Systems Inc. $VEEV

Key Points

• Comerica Bank trimmed its stake in Veeva Systems by 62.5%, selling 20,730 shares and retaining 12,448 shares valued at about $2.78 million.
• Veeva beat quarterly expectations with $2.06 EPS vs $1.94 est and revenue of $835.95M (up 16% year-over-year), and its board approved a $2.0 billion stock buyback (up to 5.5% of shares).
• Recent catalysts—Veeva’s inclusion in the S&P 500 and perceived GenAI tailwinds—support investor interest, and analysts maintain a consensus "Moderate Buy" with an average price target of $278.70.

Comerica Bank trimmed its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 62.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,448 shares of the technology company's stock after selling 20,730 shares during the period. Comerica Bank's holdings in Veeva Systems were worth $2,779,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of VEEV. Alphinity Investment Management Pty Ltd bought a new position in shares of Veeva Systems in the 3rd quarter valued at $422,241,000. Durable Capital Partners LP bought a new position in shares of Veeva Systems in the 2nd quarter valued at $281,351,000. ABN AMRO Bank N.V. bought a new position in shares of Veeva Systems in the 3rd quarter valued at $246,625,000. AQR Capital Management LLC lifted its stake in shares of Veeva Systems by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock valued at $706,078,000 after acquiring an additional 574,164 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Veeva Systems by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company's stock valued at $4,596,522,000 after acquiring an additional 457,806 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Down 0.7%

Shares of Veeva Systems stock opened at $170.47 on Tuesday. The business has a 50-day moving average price of $174.70 and a two-hundred day moving average price of $216.26. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The company has a market cap of $27.84 billion, a P/E ratio of 31.51, a PEG ratio of 0.77 and a beta of 0.92.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. During the same period last year, the business posted $1.74 EPS. The business's revenue was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Equities research analysts forecast that Veeva Systems Inc. will post 6.41 EPS for the current fiscal year.

Veeva Systems announced that its Board of Directors has approved a stock buyback plan on Monday, January 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology company to repurchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Key Veeva Systems News

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

• Positive Sentiment: S&P 500 addition and GC transition: Veeva’s inclusion in the S&P 500 and reported general counsel transition triggered strong buying interest, a primary reason for today’s upside as index funds and ETFs track the addition. Read More.
• Positive Sentiment: GenAI tailwinds: Multiple industry write-ups single out Veeva as a beneficiary of accelerating GenAI adoption in healthcare — reinforcing the growth story and investor appetite for software companies exposed to AI-driven workflow demand. Read More.
• Positive Sentiment: Analyst consensus / “Moderate Buy”: Broker surveys and coverage summaries show a constructive analyst stance (consensus “Moderate Buy”), which supports momentum following the S&P news and can attract additional buy-side interest. Read More.
• Neutral Sentiment: Brokerage commentary / ABR pieces: Media stories noting that brokers suggest buying Veeva may amplify demand, but several caution that average broker ratings can be optimistic — useful for sentiment but not definitive fundamental change. Read More.
• Neutral Sentiment: Coverage repeat: Additional write-ups (Zacks / industry pieces) reiterate the GenAI angle and the firm’s positioning — supportive background but largely confirmatory rather than news-driving. Read More.
• Negative Sentiment: Insider sale disclosed: Director Priscilla Hung sold 750 shares under a Rule 10b5-1 plan; while pre-arranged plans are common, insider selling can prompt some investors to reassess near-term conviction. Read More.
• Neutral Sentiment: Price action write-ups: Market observers noted a gap-up and heightened volume following the S&P inclusion — validates the move but doesn’t add new fundamentals. Read More.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. TD Cowen decreased their price objective on Veeva Systems from $380.00 to $300.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Weiss Ratings downgraded Veeva Systems from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, January 12th. UBS Group increased their price objective on Veeva Systems from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. Barclays decreased their price objective on Veeva Systems from $305.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Finally, Canaccord Genuity Group decreased their price objective on Veeva Systems from $280.00 to $235.00 and set a "hold" rating for the company in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $278.70.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.30% of the company's stock.

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.

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