Veeva Systems Inc. (NYSE:VEEV) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average recommendation of “Moderate Buy” from the twenty-six analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $276.5217.

VEEV has been the topic of several analyst reports. Stifel Nicolaus upped their target price on shares of Veeva Systems from $212.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research note on Tuesday, March 10th. Barclays dropped their target price on shares of Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. UBS Group upped their target price on shares of Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Needham & Company LLC dropped their target price on shares of Veeva Systems from $355.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Veeva Systems by 3.1% during the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock valued at $4,596,522,000 after purchasing an additional 457,806 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Veeva Systems by 4.1% during the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after purchasing an additional 235,983 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of 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 valued at $727,513,000 after purchasing an additional 271,252 shares during the last quarter. State Street Corp raised its holdings in shares of Veeva Systems by 2.4% during the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock valued at $801,267,000 after purchasing an additional 85,695 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Veeva Systems by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock valued at $1,035,622,000 after purchasing an additional 159,984 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

NYSE:VEEV opened at $158.69 on Thursday. Veeva Systems has a one year low of $148.05 and a one year high of $310.50. The company’s 50-day simple moving average is $167.03 and its 200 day simple moving average is $200.87. The firm has a market capitalization of $25.92 billion, a P/E ratio of 29.33, a PEG ratio of 0.70 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. The firm had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, equities research analysts expect that Veeva Systems will post 6.45 earnings per share for the current fiscal year.

About Veeva Systems

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.