Veeva Systems (NYSE:VEEV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Veeva Systems (NYSE:VEEV) from a hold rating to a buy rating in a research note released on Sunday.

VEEV has been the topic of a number of other research reports. Weiss Ratings raised shares of Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. TD Cowen restated a “buy” rating on shares of Veeva Systems in a research report on Thursday, June 4th. BMO Capital Markets decreased their price objective on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating on the stock in a report on Thursday, June 4th. Canaccord Genuity Group decreased their price objective on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Finally, Stifel Nicolaus dropped their target price on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating on the stock 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems Trading Up 3.6%

NYSE VEEV opened at $201.54 on Friday. The stock has a market capitalization of $32.74 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 0.84 and a beta of 0.94. The stock has a 50-day moving average of $175.96 and a 200 day moving average of $180.75. Veeva Systems has a twelve month low of $148.05 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.Veeva Systems’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $1.97 earnings per share. 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. Equities analysts predict that Veeva Systems will post 6.65 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the 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 transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 and hedge funds have recently added to or reduced their stakes in VEEV. Norges Bank acquired a new position in Veeva Systems during the fourth quarter worth $332,412,000. Durable Capital Partners LP purchased a new stake in Veeva Systems in the 2nd quarter valued at $281,351,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Veeva Systems by 203.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after acquiring an additional 611,868 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Veeva Systems by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after acquiring an additional 574,164 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of Veeva Systems by 43.5% during the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock worth $288,983,000 after acquiring an additional 498,971 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.