Veeva Systems (NYSE:VEEV) Given New $360.00 Price Target at Truist Financial

Veeva Systems (NYSE:VEEV) had its price target boosted by Truist Financial from $305.00 to $360.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial‘s price target would indicate a potential upside of 17.66% from the company’s previous close.

A number of other equities analysts also recently issued reports on VEEV. Wells Fargo & Company reissued an “overweight” rating and set a $330.00 target price (up from $320.00) on shares of Veeva Systems in a research note on Tuesday, September 8th. BTIG Research lifted their price target on Veeva Systems from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Guggenheim upped their price objective on Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Finally, Stifel Nicolaus set a $300.00 price objective on Veeva Systems in a research report on Thursday, August 27th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $312.21.

Veeva Systems Price Performance

Shares of VEEV opened at $305.97 on Monday. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $325.99. The stock has a market cap of $49.54 billion, a PE ratio of 50.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.89. The firm has a fifty day moving average price of $289.24 and a 200 day moving average price of $211.95.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.99 earnings per share. 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, equities analysts expect that Veeva Systems will post 6.70 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other news, insider Thomas Schwenger sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the sale, the insider owned 19,449 shares of the company’s stock, valued at $5,471,587.17. The trade was a 33.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the sale, the director owned 3,242 shares in the company, valued at approximately $846,291.68. This represents a 18.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,789 shares of company stock valued at $14,913,889 in the last 90 days. Insiders own 10.60% of the company’s stock.

Institutional Trading of Veeva Systems

Several large investors have recently bought and sold shares of the company. Aberdeen Group plc increased its holdings in Veeva Systems by 1,513.8% during the 3rd quarter. Aberdeen Group plc now owns 2,029,943 shares of the technology company’s stock worth $579,447,000 after purchasing an additional 1,904,153 shares during the last quarter. Fundsmith LLP purchased a new position in shares of Veeva Systems during the 2nd quarter valued at approximately $144,955,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after buying an additional 611,868 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Veeva Systems by 757.5% during the first quarter. Pacer Advisors Inc. now owns 485,046 shares of the technology company’s stock worth $85,203,000 after buying an additional 428,478 shares in the last quarter. Finally, Ashe Capital Management LP acquired a new stake in shares of Veeva Systems during the second quarter worth approximately $75,232,550. Institutional investors and hedge funds own 88.20% of the company’s stock.

About Veeva Systems

Veeva Systems Inc develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations.

The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.

Founded in 2007 and headquartered in Pleasanton, California, Veeva serves life sciences companies in markets around the world.