Veeva Systems (NYSE:VEEV) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Veeva Systems (NYSE:VEEV) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other brokerages have also issued reports on VEEV. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $285.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Wells Fargo & Company lifted their price target on shares of Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Piper Sandler lowered their price objective on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. TD Cowen reaffirmed a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Barclays reduced their target price on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $247.74.

Veeva Systems Stock Up 1.2%

NYSE VEEV opened at $197.74 on Friday. The stock’s 50-day simple moving average is $172.43 and its two-hundred day simple moving average is $182.36. Veeva Systems has a twelve month low of $148.05 and a twelve month high of $310.50. The company has a market capitalization of $32.12 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 0.84 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 EPS. 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. On average, equities analysts expect that Veeva Systems will post 6.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the sale, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a legal filing 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 insiders.

Institutional Trading of Veeva Systems

Large investors have recently modified their holdings of the business. SHP Wealth Management bought a new position in Veeva Systems during the 4th quarter valued at approximately $26,000. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems in the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. grew its position in shares of Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 100 shares during the last quarter. Activest Wealth Management increased its stake in shares of Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 127 shares during the period. Finally, MV Capital Management Inc. purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $30,000. 88.20% of the stock is 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.