Veeva Systems (NYSE:VEEV) Price Target Raised to $360.00

Veeva Systems (NYSE:VEEV) had its price target raised by Barclays from $315.00 to $360.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other equities analysts have also recently commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Wells Fargo & Company reiterated an “overweight” rating and issued a $330.00 price objective on shares of Veeva Systems in a report on Tuesday, September 8th. Guggenheim increased their price objective on shares of Veeva Systems from $276.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Citigroup raised their target price on shares of Veeva Systems from $190.00 to $273.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Finally, Royal Bank Of Canada raised their target price on shares of Veeva Systems from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $287.79.

Veeva Systems Stock Up 0.5%

Shares of NYSE VEEV opened at $320.20 on Monday. The business’s 50 day moving average price is $274.67 and its two-hundred day moving average price is $211.23. The company has a market cap of $51.84 billion, a PE ratio of 51.48, a price-to-earnings-growth ratio of 1.36 and a beta of 0.93. Veeva Systems has a twelve month low of $148.05 and a twelve month high of $322.99.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The company had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. During the same period last year, the firm posted $1.99 earnings per share. The business’s 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. As a group, research analysts anticipate that Veeva Systems will post 6.70 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 36,000 shares of Veeva Systems 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 completion of the sale, the insider directly owned 19,449 shares in the company, valued at approximately $4,866,723.27. The trade was a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Rizzo sold 4,841 shares of Veeva Systems stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the completion of the sale, the executive vice president owned 7,665 shares of the company’s stock, valued at approximately $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 56,789 shares of company stock worth $14,913,889. 10.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Veeva Systems

A number of large investors have recently added to or reduced their stakes in the stock. Investment Research & Advisory Group Inc. raised its holdings in Veeva Systems by 0.4% in the 3rd quarter. Investment Research & Advisory Group Inc. now owns 12,942 shares of the technology company’s stock valued at $3,699,000 after acquiring an additional 51 shares in the last quarter. Lodestone Wealth Management LLC lifted its position in shares of Veeva Systems by 68.3% during the 3rd quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock valued at $39,000 after acquiring an additional 56 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in shares of Veeva Systems by 1.2% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,664 shares of the technology company’s stock worth $1,331,000 after purchasing an additional 57 shares in the last quarter. Argos Wealth Advisors LLC grew its holdings in shares of Veeva Systems by 3.9% during the 1st quarter. Argos Wealth Advisors LLC now owns 1,720 shares of the technology company’s stock worth $302,000 after purchasing an additional 65 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its position in shares of Veeva Systems by 24.1% in the third quarter. Toth Financial Advisory Corp now owns 335 shares of the technology company’s stock worth $96,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

About Veeva Systems

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.