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 research note released on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also commented on the stock. Barclays upped their price target on shares of Veeva Systems from $275.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Evercore reaffirmed an “outperform” rating and set a $185.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Needham & Company LLC raised their target price on Veeva Systems from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Wells Fargo & Company reiterated an “overweight” rating and set a $330.00 price target on shares of Veeva Systems in a research report on Tuesday, September 8th. Finally, UBS Group boosted their price target on Veeva Systems from $190.00 to $290.00 and gave the company a “neutral” rating in a 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 given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $284.88.

Veeva Systems Price Performance

Shares of VEEV stock opened at $265.62 on Friday. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50. The stock’s fifty day moving average price is $229.97 and its 200 day moving average price is $191.71. The company has a market cap of $43.01 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business 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 research analysts anticipate that Veeva Systems will post 6.7 earnings per share for the current year.

Insider Activity

In other news, insider Thomas D. Schwenger sold 36,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the transaction, the insider owned 19,449 shares in the company, valued at $4,866,723.27. This trade represents a 64.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 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 transaction, the director owned 3,242 shares of the company’s stock, valued at $846,291.68. This represents a 18.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 46,750 shares of company stock valued at $12,017,360. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently made changes to their positions in VEEV. California State Teachers Retirement System grew its holdings in shares of Veeva Systems by 16,590.3% in the second quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company’s stock valued at $6,990,228,000 after purchasing an additional 39,152,230 shares during the period. Principal Financial Group Inc. raised its stake in 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. Geode Capital Management LLC boosted its holdings in Veeva Systems by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock valued at $706,442,000 after purchasing an additional 23,117 shares during the last quarter. Swedbank AB grew its stake in shares of Veeva Systems by 43.5% in the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock valued at $288,983,000 after buying an additional 498,971 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Veeva Systems by 43.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock worth $279,970,000 after buying an additional 483,720 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company’s Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.