Veeva Systems (NYSE:VEEV) Raised to Buy at Wall Street Zen

Veeva Systems (NYSE:VEEV) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other analysts also recently issued reports about the company. UBS Group reduced their price objective on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. BMO Capital Markets cut their target price 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. TD Cowen reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Evercore reissued an “outperform” rating and set a $185.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $250.96.

Veeva Systems Stock Down 1.3%

VEEV opened at $159.44 on Friday. The business has a 50 day moving average price of $165.06 and a two-hundred day moving average price of $192.11. The company has a market cap of $25.90 billion, a PE ratio of 28.42, a P/E/G ratio of 0.69 and a beta of 0.95. Veeva Systems has a 52 week low of $148.05 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last posted 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. The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm’s revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 EPS. 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. As a group, sell-side analysts expect that Veeva Systems will post 6.65 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Militia Capital Management LLC purchased a new position in shares of Veeva Systems in the 1st quarter worth $1,693,000. NewEdge Advisors LLC raised its position in shares of Veeva Systems by 5.3% in the 1st quarter. NewEdge Advisors LLC now owns 9,340 shares of the technology company’s stock worth $1,641,000 after buying an additional 466 shares during the period. Caerus Investment Advisors LLC purchased a new position in shares of Veeva Systems in the 1st quarter worth $334,000. Allen Capital Group LLC raised its position in shares of Veeva Systems by 4.5% in the 1st quarter. Allen Capital Group LLC now owns 17,357 shares of the technology company’s stock worth $3,049,000 after buying an additional 743 shares during the period. Finally, Glenmede Trust Co. NA raised its position in shares of Veeva Systems by 2,994.9% in the 1st quarter. Glenmede Trust Co. NA now owns 41,348 shares of the technology company’s stock worth $7,263,000 after buying an additional 40,012 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.