Veeva Systems Inc. (NYSE:VEEV) Receives Average Recommendation of “Moderate Buy” from Brokerages

Veeva Systems Inc. (NYSE:VEEV) has received an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $284.8750.

VEEV has been the subject of several recent analyst reports. Morgan Stanley increased their price target on Veeva Systems from $215.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 27th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $330.00 price objective on shares of Veeva Systems in a report on Tuesday. UBS Group increased their target price on shares of Veeva Systems from $190.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Truist Financial raised their target price on shares of Veeva Systems from $262.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, 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.

Insider Activity

In related news, insider Thomas Schwenger sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the sale, the insider owned 19,449 shares of the company’s stock, valued at $4,866,723.27. The trade was a 64.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VEEV. Sivia Capital Partners LLC lifted its holdings in shares of Veeva Systems by 225.9% in the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after buying an additional 2,164 shares during the period. Bank of Nova Scotia boosted its stake in Veeva Systems by 44.5% during the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after buying an additional 1,806 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Veeva Systems by 34.6% during the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after acquiring an additional 2,272 shares during the period. Treasurer of the State of North Carolina grew its holdings in Veeva Systems by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock worth $19,856,000 after acquiring an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC raised its position in Veeva Systems by 5.3% in the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock worth $3,140,000 after acquiring an additional 575 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Down 1.5%

Shares of NYSE VEEV opened at $260.77 on Friday. The stock has a 50 day simple moving average of $225.72 and a 200-day simple moving average of $189.87. The company has a market cap of $42.22 billion, a PE ratio of 42.89, a P/E/G ratio of 1.13 and a beta of 0.97. Veeva Systems has a 12-month low of $148.05 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $1.99 EPS. 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. Sell-side analysts forecast that Veeva Systems will post 6.7 earnings per share for the current fiscal year.

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.