TD Asset Management Inc Trims Position in Veeva Systems Inc. $VEEV

Key Points

• TD Asset Management Inc has reduced its stake in Veeva Systems Inc. by 21.7%, owning 392,174 shares valued at approximately $112.9 million.
• Veeva Systems reported a missed EPS of $1.26 for the quarter, falling short of analysts' expectations of $1.90, despite a revenue increase of 16.7% year-over-year.
• Several analysts have upgraded Veeva's target price with most predicting strong future performance, resulting in the stock currently holding an average rating of "Moderate Buy".

TD Asset Management Inc trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 21.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 392,174 shares of the technology company's stock after selling 108,472 shares during the quarter. TD Asset Management Inc owned 0.24% of Veeva Systems worth $112,938,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sowell Financial Services LLC acquired a new stake in shares of Veeva Systems during the 1st quarter worth about $274,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Veeva Systems during the 1st quarter worth about $299,000. Janney Montgomery Scott LLC acquired a new stake in shares of Veeva Systems during the 1st quarter worth about $5,876,000. GAMMA Investing LLC increased its position in shares of Veeva Systems by 13.8% during the 1st quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock worth $422,000 after purchasing an additional 221 shares during the last quarter. Finally, Private Trust Co. NA increased its position in shares of Veeva Systems by 35.0% during the 1st quarter. Private Trust Co. NA now owns 247 shares of the technology company's stock worth $57,000 after purchasing an additional 64 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $287.81 on Wednesday. Veeva Systems Inc. has a one year low of $201.54 and a one year high of $310.50. The company has a market cap of $47.17 billion, a PE ratio of 59.10, a P/E/G ratio of 2.21 and a beta of 0.98. The business has a 50-day simple moving average of $283.06 and a 200-day simple moving average of $265.77.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.64). Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The company had revenue of $789.08 million for the quarter, compared to analyst estimates of $768.49 million. During the same period in the prior year, the firm posted $1.62 earnings per share. The business's quarterly revenue was up 16.7% compared to the same quarter last year. 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, sell-side analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on VEEV shares. KeyCorp raised their price objective on Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Mizuho lifted their target price on Veeva Systems from $295.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Needham & Company LLC lifted their target price on Veeva Systems from $300.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Truist Financial lifted their target price on Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a research report on Thursday, August 28th. Finally, Barclays lifted their target price on Veeva Systems from $300.00 to $325.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Sixteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $307.58.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 14,595 shares of the business's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the completion of the transaction, the senior vice president directly owned 8,588 shares of the company's stock, valued at approximately $2,576,400. The trade was a 62.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the business's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value of $1,839,720.00. Following the transaction, the insider directly owned 25,325 shares of the company's stock, valued at approximately $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems Company Profile

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.

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