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

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given a consensus recommendation of “Moderate Buy” by the twenty-seven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eighteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $247.7391.

VEEV has been the subject of several research analyst reports. 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 note on Thursday, June 4th. Barclays dropped their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Canaccord Genuity Group reduced their price objective on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Citigroup increased their price objective on shares of Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th.

Insider Transactions at Veeva Systems

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

Institutional Trading of Veeva Systems

Several hedge funds have recently added to or reduced their stakes in VEEV. Robeco Institutional Asset Management B.V. increased its position in Veeva Systems by 11.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock worth $199,137,000 after acquiring an additional 90,703 shares during the period. Empire Life Investments Inc. increased its holdings in shares of Veeva Systems by 21.1% during the fourth 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 raised its position in shares of Veeva Systems by 217.2% in the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock valued at $2,337,000 after buying an additional 7,169 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of 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 buying an additional 137,965 shares during the period. Finally, KBC Group NV boosted its stake in shares of 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 buying an additional 129,346 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of VEEV opened at $197.63 on Friday. The company has a market cap of $32.10 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 0.83 and a beta of 0.94. The firm has a 50-day moving average of $171.07 and a 200-day moving average of $182.76. Veeva Systems has a one year low of $148.05 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (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 business had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same period last year, the business posted $1.97 EPS. Veeva Systems’s revenue 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. Analysts expect that Veeva Systems will post 6.65 earnings per share for the current 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.