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 dated Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the transaction, the director owned 3,242 shares of the company’s stock, valued at $846,291.68. This represents a 18.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Veeva Systems Stock Performance

NYSE:VEEV opened at $262.30 on Friday. Veeva Systems Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The stock has a market capitalization of $42.47 billion, a P/E ratio of 43.14, a P/E/G ratio of 1.12 and a beta of 0.97. The company’s 50-day simple moving average is $228.50 and its 200-day simple moving average is $190.94.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same quarter in the previous year, the business posted $1.99 EPS. Veeva Systems’s revenue was up 17.6% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. On average, research analysts forecast that Veeva Systems Inc. will post 6.7 EPS for the current year.

Institutional Investors Weigh In On Veeva Systems

Large investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its position in Veeva Systems by 16,590.3% during the 2nd quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company’s stock worth $6,990,228,000 after acquiring an additional 39,152,230 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Veeva Systems by 7.0% in the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock valued at $727,513,000 after purchasing an additional 271,252 shares during the period. State Street Corp increased its holdings in shares of Veeva Systems by 2.4% in the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock valued at $801,267,000 after purchasing an additional 85,695 shares during the period. Geode Capital Management LLC raised its stake in shares of Veeva Systems by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock worth $706,442,000 after purchasing an additional 23,117 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Veeva Systems by 31.2% in the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after purchasing an additional 574,164 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a research report on Thursday, June 4th. Weiss Ratings raised Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Citigroup increased their price target on Veeva Systems from $190.00 to $273.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. Finally, BNP Paribas Exane restated an “outperform” rating and set a $285.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.88.

About Veeva Systems

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company’s Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.