Priscilla Hung Sells 750 Shares of Veeva Systems (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV) Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $153.50, for a total value of $115,125.00. Following the completion of the transaction, the director owned 4,003 shares of the company’s stock, valued at $614,460.50. This represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veeva Systems Stock Performance

Shares of VEEV opened at $167.45 on Thursday. The stock has a 50 day simple moving average of $178.53 and a 200 day simple moving average of $227.08. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50. The firm has a market capitalization of $27.35 billion, a PE ratio of 30.95, a P/E/G ratio of 1.04 and a beta of 1.10.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The business had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. During the same period in the previous year, the firm earned $1.74 EPS. Veeva Systems’s quarterly 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 predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Veeva Systems declared that its board has authorized a share repurchase program on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to buy up to 5.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Veeva Systems

A number of large investors have recently added to or reduced their stakes in VEEV. GPS Wealth Strategies Group LLC raised its stake in Veeva Systems by 196.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after acquiring an additional 55 shares during the period. SHP Wealth Management bought a new stake in Veeva Systems in the 4th quarter valued at $26,000. Board of the Pension Protection Fund bought a new stake in Veeva Systems in the 4th quarter valued at $27,000. Raiffeisen Bank International AG bought a new stake in Veeva Systems in the 3rd quarter valued at $28,000. Finally, Newbridge Financial Services Group Inc. raised its stake in Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 100 shares during the period. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VEEV shares. Truist Financial reaffirmed a “buy” rating and set a $262.00 price target (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Wall Street Zen downgraded Veeva Systems from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Canaccord Genuity Group cut 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. William Blair reissued an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. Finally, Needham & Company LLC cut their price objective on Veeva Systems from $355.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.