Veeva Systems Inc. $VEEV Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services cut its Veeva stake by 78.2% in Q4, selling 1,851,158 shares and now holds 516,394 shares valued at about $115.3 million (≈0.31% of the company).
• Veeva beat quarterly expectations (EPS $2.06 vs. $1.94; revenue $835.95M, +16% YoY) and authorized a $2.0 billion share buyback to repurchase up to 5.5% of its stock.
• Shares trade around $158.45 with a market cap of $25.9B and a 52-week range of $148.05–$310.50, while analysts hold a consensus "Moderate Buy" with a $278.70 target price.

Massachusetts Financial Services Co. MA cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 78.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 516,394 shares of the technology company's stock after selling 1,851,158 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.31% of Veeva Systems worth $115,275,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. GPS Wealth Strategies Group LLC boosted its stake in shares of Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company's stock valued at $25,000 after purchasing an additional 55 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Veeva Systems in the third quarter valued at approximately $28,000. OLD Second National Bank of Aurora purchased a new position in shares of Veeva Systems in the third quarter valued at approximately $30,000. Board of the Pension Protection Fund purchased a new position in shares of Veeva Systems in the fourth quarter valued at approximately $27,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock valued at $29,000 after purchasing an additional 100 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Up 4.6%

Shares of Veeva Systems stock opened at $158.45 on Tuesday. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The company has a 50 day moving average of $179.63 and a 200 day moving average of $228.42. The company has a market capitalization of $25.88 billion, a P/E ratio of 29.29, a P/E/G ratio of 0.99 and a beta of 1.10.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The firm's quarterly 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. As a group, research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems declared that its Board of Directors has initiated a share repurchase program on Monday, January 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Oppenheimer lowered their price objective on shares of Veeva Systems from $325.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, February 24th. Wall Street Zen lowered shares of Veeva Systems from a "buy" rating to a "hold" rating in a research note on Sunday, March 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Veeva Systems from $330.00 to $296.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Finally, UBS Group raised their price objective on shares of Veeva Systems from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $278.70.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.