Here’s Why Veeva Systems (VEEV) Traded Down in Q4

1 month ago 33

Soumya Eswaran

Tue, February 10, 2026 astatine 7:23 AM CST 3 min read

Baron Fund, an concern absorption company, released its Q4 2025 missive for “Baron Asset Fund”. A transcript of the missive tin beryllium downloaded here. Equities experienced a beardown 4th quarter, capping disconnected a volatile year. However, the Russell Midcap Growth Index (the Index) ended the 4th down 3.70%. In this environment, the Baron Asset Fund returned 7.89% (Institutional Shares), surpassing the Index by 11.59 percent points. Favorable banal enactment led to the outperformance of the Fund successful the quarter. As of December 31, 2025, the Fund held a full of 53 positions, and the 10 largest holdings represented 52.8% of nett assets, and the 20 largest holdings represented 73.3% of nett assets. Please reappraisal the Fund’s apical 5 holdings to summation insights into their cardinal selections for 2025.

In its fourth-quarter 2025 capitalist letter, Baron Asset Fund highlighted Veeva Systems Inc. (NYSE:VEEV) arsenic 1 of its notable detractors. Veeva Systems Inc. (NYSE:VEEV) is simply a exertion institution that provides a cloud-based bundle level for the beingness sciences industry. On February 9, 2026, Veeva Systems Inc. (NYSE:VEEV) banal closed astatine $184.61 per share. One-month instrumentality of Veeva Systems Inc. (NYSE:VEEV) was -19.20%, and its shares are down 21.22% implicit the past 12 months. Veeva Systems Inc. (NYSE:VEEV) has a marketplace capitalization of $30.347 billion.

Baron Asset Fund stated the pursuing regarding Veeva Systems Inc. (NYSE:VEEV) successful its 4th fourth 2025 capitalist letter:

"Shares of Veeva Systems Inc. (NYSE:VEEV), a cloud-based bundle level serving the beingness sciences industry, declined. After a beardown show for overmuch of the year, the banal came nether unit pursuing Veeva’s November quarterly update, successful which absorption tempered expectations for lawsuit retention. The institution present expects 14 of the apical 20 planetary pharmaceutical companies to follow its next-generation Vault CRM product— down from the 18 customers utilizing the bequest Veeva CRM built connected Salesforce. While Veeva’s 2023 determination to terminate its agelong lasting concern with Salesforce has fixed the institution afloat power implicit its merchandise roadmap, enabling faster innovation and expanding its semipermanent marketplace opportunity, it has introduced head-to-head contention with Salesforce. Since then, Salesforce has announced its ain merchandise improvement efforts and secured respective high-profile wins among the apical 20 pharmaceutical accounts, prompting the marketplace to reassess the magnitude and duration of near-term competitory risks. We clasp semipermanent condemnation successful the banal arsenic Veeva continues to acquisition favorable secular tailwinds and clasp assurance successful its 2030 fiscal targets."