Veeva Systems (NYSE:VEEV) Trading 2.8% Higher – What’s Next?

Veeva Systems Inc. (NYSE:VEEV) was up 2.8% on Wednesday . The company traded as high as $271.52 and last traded at $268.2950. 299,983 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 2,400,332 shares. The stock had previously closed at $260.91.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VEEV shares. Barclays lifted their price objective on shares of Veeva Systems from $275.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Weiss Ratings upgraded shares of Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Needham & Company LLC increased their price objective on Veeva Systems from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Finally, Raymond James Financial reissued an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $284.88.

Veeva Systems Price Performance

The firm has a market cap of $43.82 billion, a price-to-earnings ratio of 44.51, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. The stock’s fifty day moving average price is $238.53 and its 200-day moving average price is $195.11.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share 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 for the quarter, compared to analysts’ expectations of $905.38 million. During the same period in the previous year, the company posted $1.99 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. 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. As a group, equities research analysts predict that Veeva Systems Inc. will post 6.7 EPS for the current fiscal year.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the transaction, the director directly owned 3,242 shares of the company’s stock, valued at approximately $846,291.68. The trade was a 18.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 10,000 shares of Veeva Systems stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the sale, the insider directly owned 19,449 shares of the company’s stock, valued at $5,471,587.17. This trade represents a 33.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 46,750 shares of company stock valued at $12,017,360. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its stake in Veeva Systems by 8.6% in the second quarter. Sequoia Financial Advisors LLC now owns 28,344 shares of the technology company’s stock valued at $5,030,000 after acquiring an additional 2,246 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Veeva Systems by 49.2% in the 2nd quarter. Tidal Investments LLC now owns 29,882 shares of the technology company’s stock valued at $5,303,000 after purchasing an additional 9,859 shares during the last quarter. Van Hulzen Asset Management LLC bought a new stake in Veeva Systems in the second quarter worth $251,000. National Pension Service increased its position in Veeva Systems by 20.8% during the second quarter. National Pension Service now owns 276,161 shares of the technology company’s stock worth $49,010,000 after buying an additional 47,459 shares during the last quarter. Finally, RFG Advisory LLC acquired a new position in Veeva Systems during the second quarter worth $1,417,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.