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

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average recommendation of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $250.9583.

A number of research firms have weighed in on VEEV. Weiss Ratings downgraded Veeva Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. BTIG Research reaffirmed a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Zacks Research downgraded Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. BMO Capital Markets reduced their price target on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research report on Thursday, June 4th. Finally, Robert W. Baird upped their price target on Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Several large investors have recently made changes to their positions in VEEV. Sivia Capital Partners LLC boosted its holdings in shares of Veeva Systems by 225.9% in the 2nd 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 last quarter. Bank of Nova Scotia boosted its holdings in shares of Veeva Systems by 44.5% in the 2nd 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 during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Veeva Systems by 34.6% in the 2nd 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 last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Veeva Systems by 2.2% in the 2nd 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 last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in shares of Veeva Systems by 5.3% in 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. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $171.28 on Monday. Veeva Systems has a 52-week low of $148.05 and a 52-week high of $310.50. The stock has a 50 day simple moving average of $163.76 and a 200 day simple moving average of $186.05. The firm has a market capitalization of $27.82 billion, a PE ratio of 30.53, a P/E/G ratio of 0.74 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the prior year, the firm posted $1.97 EPS. The business’s revenue was up 16.3% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Equities research analysts predict that Veeva Systems will post 6.65 EPS for the current fiscal year.

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.