Veeva Systems (NYSE:VEEV) Price Target Raised to $400.00

Veeva Systems (NYSE:VEEV) had its price objective hoisted by stock analysts at Wells Fargo & Company from $330.00 to $400.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 30.68% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Piper Sandler upped their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Citigroup raised their price target on shares of Veeva Systems from $190.00 to $273.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. TD Cowen lifted their price objective on Veeva Systems from $235.00 to $283.00 and gave the company a “buy” rating in a report on Monday, August 24th. Stifel Nicolaus set a $300.00 price objective on Veeva Systems in a research note on Thursday, August 27th. Finally, Jefferies Financial Group upped their price objective on Veeva Systems from $295.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $317.42.

Veeva Systems Price Performance

Shares of NYSE VEEV traded up $0.54 during trading hours on Wednesday, reaching $306.09. The stock had a trading volume of 112,855 shares, compared to its average volume of 2,249,283. The business’s fifty day moving average is $290.24 and its two-hundred day moving average is $212.79. The company has a market cap of $49.56 billion, a price-to-earnings ratio of 50.49, a PEG ratio of 1.31 and a beta of 0.89. Veeva Systems has a twelve month low of $148.05 and a twelve month high of $325.99.

Veeva Systems (NYSE:VEEV) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $905.38 million. During the same period last year, the business earned $1.99 earnings per share. Veeva Systems’s quarterly revenue was up 17.6% compared to the same quarter last year. 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. Sell-side analysts forecast that Veeva Systems will post 6.70 earnings per share for the current fiscal year.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $281.33, for a total value of $2,813,300.00. Following the transaction, the insider directly owned 19,449 shares in the company, valued at $5,471,587.17. The trade was a 33.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Rizzo sold 4,841 shares of the company’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the sale, the executive vice president directly owned 7,665 shares in the company, valued at $2,119,449.15. This represents a 38.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 56,789 shares of company stock worth $14,913,889. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Private Wealth Asset Management LLC boosted its holdings in shares of Veeva Systems by 4,300.0% in the 3rd quarter. Private Wealth Asset Management LLC now owns 3,300 shares of the technology company’s stock worth $1,002,000 after acquiring an additional 3,225 shares in the last quarter. Private Advisor Group LLC increased its holdings in Veeva Systems by 86.8% during the 3rd quarter. Private Advisor Group LLC now owns 4,652 shares of the technology company’s stock valued at $1,328,000 after purchasing an additional 2,162 shares in the last quarter. Taylor Hoffman Capital Management LLC bought a new position in Veeva Systems in the 3rd quarter valued at $302,000. Ieq Capital LLC raised its position in Veeva Systems by 7.0% in the 3rd quarter. Ieq Capital LLC now owns 88,582 shares of the technology company’s stock valued at $25,285,000 after purchasing an additional 5,807 shares during the last quarter. Finally, Focus Advisor Solutions LLC boosted its stake in Veeva Systems by 117.6% in the third quarter. Focus Advisor Solutions LLC now owns 15,759 shares of the technology company’s stock worth $4,499,000 after purchasing an additional 8,518 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

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.