Zacks Research Upgrades Veeva Systems (NYSE:VEEV) to Strong-Buy

Veeva Systems (NYSE:VEEV) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. TD Cowen dropped their target price on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Piper Sandler reduced their target price on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Truist Financial restated a “buy” rating and set a $262.00 price target (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Stifel Nicolaus upped their target price on shares of Veeva Systems from $212.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada decreased their price target on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $278.70.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $167.46 on Wednesday. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The firm has a market cap of $27.35 billion, a P/E ratio of 30.95, a P/E/G ratio of 1.10 and a beta of 1.10. The business’s 50 day moving average price is $178.20 and its 200-day moving average price is $226.67.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 earnings per share. 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, equities analysts predict that Veeva Systems will post 4.35 EPS for the current year.

Veeva Systems declared that its Board of Directors has authorized a share repurchase program on Monday, January 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology company to repurchase up to 5.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Veeva Systems 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 value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.30% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in shares of Veeva Systems by 57.0% during the 1st quarter. SG Americas Securities LLC now owns 31,631 shares of the technology company’s stock valued at $5,556,000 after acquiring an additional 11,481 shares during the last quarter. IVC Wealth Advisors LLC purchased a new stake in Veeva Systems in the first quarter worth approximately $254,000. Diversified Trust Co grew its position in Veeva Systems by 32.2% in the 1st quarter. Diversified Trust Co now owns 16,656 shares of the technology company’s stock worth $2,926,000 after purchasing an additional 4,061 shares during the period. Hsbc Holdings PLC raised its stake in Veeva Systems by 25.2% during the 4th quarter. Hsbc Holdings PLC now owns 198,902 shares of the technology company’s stock valued at $44,481,000 after buying an additional 39,983 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Veeva Systems by 0.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 44,430 shares of the technology company’s stock valued at $9,918,000 after buying an additional 309 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Company Profile

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.