Veeva Systems (NYSE:VEEV) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Veeva Systems (NYSE:VEEV) from a buy rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

VEEV has been the subject of a number of other reports. Guggenheim lifted their target price on Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. TD Cowen increased their price target on Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Morgan Stanley raised their price objective on shares of Veeva Systems from $215.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 27th. Robert W. Baird lifted their price objective on shares of Veeva Systems from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Finally, Piper Sandler boosted their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $284.88.

Veeva Systems Trading Down 0.1%

Shares of Veeva Systems stock opened at $280.32 on Friday. The business has a 50-day moving average price of $245.00 and a two-hundred day moving average price of $197.43. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50. The company has a market cap of $45.39 billion, a P/E ratio of 46.11, a PEG ratio of 1.20 and a beta of 0.97.

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 return on equity of 14.25% and a net margin of 29.34%.The firm had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same period last year, the company posted $1.99 EPS. The business’s quarterly 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. Equities research analysts forecast that Veeva Systems will post 6.7 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the transaction, the director owned 3,242 shares in the company, valued at approximately $846,291.68. This represents a 18.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Schwenger sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $250.23, for a total value of $9,008,280.00. Following the sale, the insider owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. This represents a 64.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 46,750 shares of company stock worth $12,017,360. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VEEV. Norges Bank bought a new stake in Veeva Systems during the 4th quarter worth approximately $332,412,000. Fundsmith LLP bought a new position in shares of Veeva Systems in the second quarter valued at approximately $144,955,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Veeva Systems by 203.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after purchasing an additional 611,868 shares in the last quarter. Swedbank AB boosted its position in shares of Veeva Systems by 43.5% during the first quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock valued at $288,983,000 after buying an additional 498,971 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in shares of Veeva Systems by 43.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock valued at $279,970,000 after buying an additional 483,720 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Company Profile

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.