Veeva Systems (NYSE:VEEV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Veeva Systems (NYSE:VEEV) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

Several other equities analysts have also issued reports on VEEV. Canaccord Genuity Group raised their price target on Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Piper Sandler boosted their price objective on Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $295.00 price objective on shares of Veeva Systems in a research report on Thursday, August 27th. Mizuho increased their price objective on Veeva Systems from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Finally, TD Cowen raised their target price on shares of Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $284.88.

Veeva Systems Stock Down 0.1%

NYSE VEEV opened at $295.70 on Friday. The company has a 50-day simple moving average of $262.80 and a two-hundred day simple moving average of $204.53. Veeva Systems has a 12-month low of $148.05 and a 12-month high of $302.17. The firm has a market cap of $47.88 billion, a price-to-earnings ratio of 48.64, a PEG ratio of 1.26 and a beta of 0.93.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The firm had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the previous year, the business earned $1.99 earnings per share. The company’s quarterly 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. Equities analysts expect that Veeva Systems will post 6.70 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 Wednesday, September 9th. The stock was 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 of the company’s stock, valued at approximately $846,291.68. This trade represents a 18.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel Rizzo sold 4,841 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total value of $1,338,584.91. Following the transaction, the executive vice president directly owned 7,665 shares of the company’s stock, valued at $2,119,449.15. This represents a 38.71% decrease in their position. 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. Over the last 90 days, insiders sold 51,591 shares of company stock worth $13,355,945. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. SHP Wealth Management purchased a new stake in Veeva Systems in the fourth quarter worth about $26,000. Compass Financial Management LLC bought a new position in shares of Veeva Systems in the second quarter worth about $27,000. Burkett Financial Services LLC purchased a new position in shares of Veeva Systems during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC purchased a new position in shares of Veeva Systems during the 2nd quarter valued at about $29,000. Finally, Field & Main Bank bought a new position in shares of Veeva Systems during the 2nd quarter valued at approximately $29,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.

The company’s product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.

Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.