Wall Street Zen Upgrades Veeva Systems (NYSE:VEEV) to “Buy”

Veeva Systems (NYSE:VEEV) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on the stock. Oppenheimer upped their price objective on shares of Veeva Systems from $225.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Wells Fargo & Company reissued an “overweight” rating and set a $330.00 target price on shares of Veeva Systems in a research report on Tuesday, September 8th. Piper Sandler boosted their target price on Veeva Systems from $295.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Needham & Company LLC boosted their target price on Veeva Systems from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Finally, Canaccord Genuity Group upped their target price on Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $284.88.

Veeva Systems Trading Down 0.0%

Shares of Veeva Systems stock opened at $262.30 on Friday. The stock has a fifty day simple moving average of $228.50 and a 200 day simple moving average of $191.08. Veeva Systems has a 12-month low of $148.05 and a 12-month high of $310.50. The company has a market capitalization of $42.47 billion, a P/E ratio of 43.14, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.Veeva Systems’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. On average, analysts predict that Veeva Systems will post 6.7 EPS for the current year.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 36,000 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 19,449 shares in the company, valued at $4,866,723.27. The trade was a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the transaction, the director owned 3,242 shares in the company, valued at approximately $846,291.68. The trade was a 18.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 46,750 shares of company stock valued at $12,017,360. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veeva Systems

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

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.