Veeva Systems (NYSE:VEEV) Rating Lowered to Hold at Wall Street Zen

Veeva Systems (NYSE:VEEV) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Piper Sandler cut their price target on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. BNP Paribas Exane reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Canaccord Genuity Group decreased their price objective on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $247.74.

Veeva Systems Price Performance

Shares of VEEV opened at $195.62 on Friday. The firm has a market cap of $31.78 billion, a P/E ratio of 34.87, a P/E/G ratio of 0.85 and a beta of 0.94. The stock has a 50 day simple moving average of $171.66 and a two-hundred day simple moving average of $182.85. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $310.50.

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

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated 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. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

Institutional Trading of Veeva Systems

Institutional investors have recently modified their holdings of the company. Williams Jones Wealth Management LLC. boosted its stake in Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock worth $2,806,000 after acquiring an additional 40 shares in the last quarter. Personal CFO Solutions LLC increased its stake in shares of Veeva Systems by 4.3% during the fourth quarter. Personal CFO Solutions LLC now owns 1,213 shares of the technology company’s stock valued at $271,000 after purchasing an additional 50 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Veeva Systems by 0.7% during the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock valued at $1,982,000 after purchasing an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Veeva Systems by 8.1% during the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock valued at $214,000 after purchasing an additional 54 shares during the last quarter. Finally, Northwest Wealth Management LLC boosted its position in shares of Veeva Systems by 6.1% in the 4th quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company’s stock worth $213,000 after purchasing an additional 55 shares in the last quarter. 88.20% of the stock is currently 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.