Veeva Systems (NYSE:VEEV) Shares Gap Up – Time to Buy?

Veeva Systems Inc. (NYSE:VEEV) gapped up prior to trading on Friday . The stock had previously closed at $155.97, but opened at $174.02. Veeva Systems shares last traded at $171.8010, with a volume of 1,394,334 shares.

Analyst Upgrades and Downgrades

VEEV has been the subject of several research reports. Royal Bank Of Canada lowered their target price on Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Barclays decreased their price target on Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. UBS Group upped their target price on shares of Veeva Systems from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Oppenheimer lowered their price target on shares of Veeva Systems from $325.00 to $275.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Finally, Morgan Stanley increased their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.70.

Veeva Systems Trading Up 11.4%

The stock has a market cap of $28.39 billion, a P/E ratio of 32.13, a PEG ratio of 0.71 and a beta of 1.10. The company has a 50 day simple moving average of $174.70 and a 200 day simple moving average of $217.25.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. During the same period in the prior year, the business posted $1.74 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. 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, sell-side analysts expect that Veeva Systems Inc. will post 6.41 earnings per share for the current year.

Veeva Systems declared that its Board of Directors has approved a share repurchase plan on Monday, January 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Friday, April 10th. The stock was sold at an average price of $153.50, for a total transaction of $115,125.00. Following the completion of the sale, the director owned 4,003 shares of the company’s stock, valued at approximately $614,460.50. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.30% of the company’s stock.

Institutional Trading of Veeva Systems

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Veeva Systems by 3.1% in the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after buying an additional 457,806 shares in the last quarter. Alliancebernstein L.P. increased its stake in 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 acquiring an additional 235,983 shares during the period. Principal Financial Group Inc. increased its stake in Veeva Systems by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company’s stock worth $863,978,000 after acquiring an additional 23,416 shares during the period. State Street Corp raised its holdings in Veeva Systems by 2.4% in the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock valued at $801,267,000 after acquiring an additional 85,695 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Veeva Systems by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock valued at $1,035,622,000 after acquiring an additional 159,984 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

About Veeva Systems

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.