Veeva Systems (NYSE:VEEV) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Veeva Systems (NYSE:VEEV) from a buy rating to a hold rating in a research note released on Saturday morning.

Several other research analysts have also recently weighed in on the stock. Barclays decreased their price target on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. BMO Capital Markets dropped their price objective on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. Canaccord Genuity Group reduced their target price on Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Piper Sandler reduced their target price on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Finally, Mizuho decreased their target price on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $247.74.

Veeva Systems Trading Down 0.9%

VEEV stock opened at $195.62 on Friday. The firm has a 50 day moving average of $171.66 and a 200-day moving average of $182.85. Veeva Systems has a 12 month low of $148.05 and a 12 month high of $310.50. The firm has a market capitalization of $31.78 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 0.84 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. During the same quarter in the previous year, the company earned $1.97 earnings per share. Veeva Systems’s revenue for the quarter was up 16.3% on a year-over-year basis. 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. Sell-side analysts predict that Veeva Systems will post 6.65 EPS for the current year.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction 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 owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its holdings in Veeva Systems by 11.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock valued at $199,137,000 after acquiring an additional 90,703 shares during the period. Empire Life Investments Inc. increased its stake in Veeva Systems by 21.1% in the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock worth $8,272,000 after purchasing an additional 6,453 shares during the period. Farther Finance Advisors LLC increased its stake in Veeva Systems by 217.2% in the 4th quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock worth $2,337,000 after purchasing an additional 7,169 shares during the period. Pictet Asset Management Holding SA lifted its position in Veeva Systems by 14.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock valued at $247,817,000 after purchasing an additional 137,965 shares during the last quarter. Finally, KBC Group NV lifted its position in Veeva Systems by 180.2% in the fourth quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock valued at $44,900,000 after purchasing an additional 129,346 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

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.