Veeva Systems Inc. (NYSE:VEEV) Given Average Rating of “Moderate Buy” by Brokerages

Veeva Systems Inc. (NYSE:VEEV) has received an average recommendation of “Moderate Buy” from the twenty-six research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $278.6957.

Several analysts have commented on VEEV shares. Royal Bank Of Canada lowered their price target on Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Wells Fargo & Company lowered their price target on Veeva Systems from $333.00 to $317.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Oppenheimer lowered their price target on Veeva Systems from $325.00 to $275.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Finally, Needham & Company LLC lowered their price target on Veeva Systems from $355.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, March 5th.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated 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 in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.30% of the stock is owned by company insiders.

Institutional Trading of Veeva Systems

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Veeva Systems by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock worth $4,596,522,000 after purchasing an additional 457,806 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Veeva Systems by 4.1% during the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock worth $1,770,071,000 after purchasing an additional 235,983 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares during the period. State Street Corp grew its holdings in shares of Veeva Systems by 2.4% during the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after purchasing an additional 85,695 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Veeva Systems by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock worth $1,035,622,000 after purchasing an additional 159,984 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.2%

Shares of VEEV stock opened at $166.21 on Friday. The firm has a 50-day moving average price of $174.27 and a 200 day moving average price of $213.74. Veeva Systems has a twelve month low of $148.05 and a twelve month high of $310.50. The company has a market capitalization of $27.15 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 0.74 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $835.95 million during the quarter, compared to analysts’ expectations of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business 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. As a group, research analysts predict that Veeva Systems will post 6.41 earnings per share for the current year.

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.