Wall Street Zen Downgrades Veeva Systems (NYSE:VEEV) to Hold

Veeva Systems (NYSE:VEEV) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other research firms also recently commented on VEEV. Weiss Ratings downgraded shares of Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Jefferies Financial Group reissued a “buy” rating and issued a $330.00 price target on shares of Veeva Systems in a research report on Monday, November 24th. KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a research note on Friday, December 12th. UBS Group raised their price objective on shares of Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Needham & Company LLC reduced their price objective on shares of Veeva Systems from $355.00 to $270.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $283.70.

Veeva Systems Trading Up 0.6%

Shares of NYSE VEEV opened at $185.12 on Friday. The stock has a fifty day simple moving average of $193.79 and a two-hundred day simple moving average of $239.74. Veeva Systems has a 1-year low of $168.13 and a 1-year high of $310.50. The firm has a market cap of $30.43 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 1.22 and a beta of 1.09.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $835.95 million for the quarter, compared to analysts’ expectations of $810.95 million. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Analysts forecast that Veeva Systems will post 4.35 EPS for the current year.

Veeva Systems announced 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 outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the sale, the insider owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VEEV. Linden Thomas Advisory Services LLC boosted its stake in Veeva Systems by 0.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company’s stock valued at $3,707,000 after buying an additional 35 shares during the period. Personal CFO Solutions LLC increased its stake in Veeva Systems by 3.5% in the 3rd quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company’s stock worth $346,000 after acquiring an additional 39 shares during the last quarter. AFT Forsyth & Company Inc. increased its stake in Veeva Systems by 4.2% in the 3rd quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company’s stock worth $293,000 after acquiring an additional 40 shares during the last quarter. Williams Jones Wealth Management LLC. raised its holdings in shares of Veeva Systems by 0.4% in the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock valued at $2,806,000 after acquiring an additional 40 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Veeva Systems by 17.1% in the 3rd quarter. Private Trust Co. NA now owns 281 shares of the technology company’s stock valued at $84,000 after acquiring an additional 41 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Company 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.