Teacher Retirement System of Texas Has $64.78 Million Stake in Veeva Systems Inc. $VEEV

Key Points

• Teacher Retirement System of Texas increased its stake in Veeva by 180.8% in Q4 to 290,182 shares — about 0.18% of the company — valued at $64.78 million after buying 186,841 shares.
• Veeva topped Q results with EPS of $2.06 versus $1.94 expected and revenue of $835.95M (up 16% YoY), and provided FY2027 guidance around 8.85 EPS with Q1 guidance of $2.13–2.14.
• The board authorized a $2.00 billion share repurchase (up to ~5.5% of shares), and analysts broadly remain positive with an average rating of "Moderate Buy" and a consensus target of $278.70.

Teacher Retirement System of Texas grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 180.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,182 shares of the technology company's stock after purchasing an additional 186,841 shares during the period. Teacher Retirement System of Texas owned about 0.18% of Veeva Systems worth $64,777,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in VEEV. Sivia Capital Partners LLC grew its stake in shares of Veeva Systems by 225.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company's stock valued at $899,000 after buying an additional 2,164 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of Veeva Systems by 44.5% in the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company's stock valued at $1,689,000 after buying an additional 1,806 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Veeva Systems by 34.6% in the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company's stock valued at $2,543,000 after buying an additional 2,272 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Veeva Systems by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company's stock valued at $19,856,000 after buying an additional 1,452 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its stake in shares of Veeva Systems by 5.3% in the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company's stock valued at $3,140,000 after buying an additional 575 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $153.50, for a total value of $115,125.00. Following the completion of the sale, the director directly owned 4,003 shares of the company's stock, valued at approximately $614,460.50. This represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Down 2.6%

Shares of Veeva Systems stock opened at $163.46 on Thursday. The stock has a market capitalization of $26.70 billion, a P/E ratio of 30.21, a PEG ratio of 1.10 and a beta of 1.10. The stock has a 50 day moving average price of $176.91 and a two-hundred day moving average price of $222.56. Veeva Systems Inc. has a 12-month low of $148.05 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) 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 analysts' expectations of $810.95 million. During the same quarter in the prior year, the business earned $1.74 earnings per share. The company's revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Sell-side analysts anticipate that Veeva Systems Inc. will post 6.41 earnings per share for the current year.

Veeva Systems announced that its board has authorized a stock repurchase plan on Monday, January 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology company to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on VEEV shares. TD Cowen lowered their price target on Veeva Systems from $380.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Truist Financial reissued a "buy" rating and issued a $262.00 price target (down from $275.00) on shares of Veeva Systems in a research note on Thursday, March 5th. Morgan Stanley boosted their price target on Veeva Systems from $205.00 to $215.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Barclays lowered their price target on Veeva Systems from $305.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, Canaccord Genuity Group decreased their target price on Veeva Systems from $280.00 to $235.00 and set a "hold" rating for the company in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $278.70.

About Veeva Systems

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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