Veeva Systems (NYSE:VEEV) Trading 4.4% Higher on Analyst Upgrade

Veeva Systems Inc. (NYSE:VEEV)’s stock price traded up 4.4% during trading on Monday after Citigroup raised their price target on the stock from $190.00 to $273.00. Citigroup currently has a neutral rating on the stock. Veeva Systems traded as high as $289.00 and last traded at $288.76. 991,508 shares were traded during trading, a decline of 60% from the average daily volume of 2,476,969 shares. The stock had previously closed at $276.69.

A number of other research analysts have also commented on VEEV. BNP Paribas Exane restated an “outperform” rating and set a $285.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Evercore reiterated an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Canaccord Genuity Group lifted their price objective on Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday. Raymond James Financial restated an “outperform” rating and issued a $225.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Barclays raised their price target on Veeva Systems from $275.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $284.46.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $250.23, for a total value of $9,008,280.00. Following the transaction, the insider owned 19,449 shares in the company, valued at approximately $4,866,723.27. The trade was a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SHP Wealth Management bought a new stake in shares of Veeva Systems in the 4th quarter worth approximately $26,000. Compass Financial Management LLC purchased a new stake in Veeva Systems in the second quarter worth $27,000. Arlington Trust Co LLC purchased a new stake in Veeva Systems in the second quarter worth $29,000. Field & Main Bank purchased a new position in Veeva Systems during the 2nd quarter valued at $29,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Veeva Systems in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

The firm has a market cap of $46.91 billion, a P/E ratio of 47.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The firm’s 50 day moving average is $208.48 and its 200 day moving average is $184.39.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same quarter last year, the firm earned $1.99 earnings per share. The business’s revenue for the quarter 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. As a group, analysts expect that Veeva Systems Inc. will post 6.65 EPS for the current year.

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.