Veeva Systems (NYSE:VEEV) Upgraded by Guggenheim to “Strong-Buy” Rating

Veeva Systems (NYSE:VEEV) was upgraded by Guggenheim to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research firms also recently commented on VEEV. Weiss Ratings raised Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Piper Sandler reduced their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Wall Street Zen lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, BNP Paribas Exane reissued an “outperform” rating and set a $285.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems Stock Down 2.8%

Shares of VEEV opened at $179.36 on Wednesday. The firm has a fifty day simple moving average of $174.05 and a two-hundred day simple moving average of $181.57. Veeva Systems has a twelve month low of $148.05 and a twelve month high of $310.50. The stock has a market capitalization of $29.14 billion, a P/E ratio of 31.97, a PEG ratio of 0.79 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.97 EPS. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Sell-side analysts expect that Veeva Systems will post 6.65 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors have recently modified their holdings of the business. SHP Wealth Management bought a new stake in Veeva Systems in the 4th quarter worth about $26,000. Newbridge Financial Services Group Inc. raised its position 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 worth $29,000 after buying an additional 100 shares during the last quarter. Activest Wealth Management lifted its stake in Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares during the period. Arlington Trust Co LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at about $29,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $30,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.