Veeva Systems (NYSE:VEEV) Stock Rating Upgraded by Wall Street Zen

Veeva Systems (NYSE:VEEV) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Other equities research analysts also recently issued reports about the stock. UBS Group reduced their price target on shares of Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Citigroup increased their price objective on shares of Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Guggenheim started coverage on shares of Veeva Systems in a research note on Thursday, July 23rd. They set a “buy” rating and a $232.00 target price on the stock. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Finally, BTIG Research reiterated a “buy” rating and issued a $340.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems Stock Performance

Veeva Systems stock opened at $194.23 on Friday. Veeva Systems has a 52 week low of $148.05 and a 52 week high of $310.50. The stock has a market capitalization of $31.55 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. The stock has a fifty day moving average of $175.19 and a 200-day moving average of $181.01.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.Veeva Systems’s revenue was up 16.3% compared to the same quarter last year. During the same period last year, the firm posted $1.97 earnings per share. 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, research analysts forecast that Veeva Systems will post 6.65 earnings per share for the current year.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in VEEV. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 7.0% during the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares during the period. State Street Corp raised its position in shares of Veeva Systems by 2.4% during the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after purchasing an additional 85,695 shares during the period. Geode Capital Management LLC raised its position in shares of Veeva Systems by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock worth $706,442,000 after purchasing an additional 23,117 shares during the period. AQR Capital Management LLC raised its position in shares of Veeva Systems by 31.2% during the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after purchasing an additional 574,164 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Veeva Systems by 12.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company’s stock worth $385,761,000 after purchasing an additional 189,093 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.