Veeva Systems (NYSE:VEEV – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.
Other analysts have also issued reports about the company. Raymond James Financial restated an “outperform” rating and issued a $225.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a research report on Thursday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $275.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Mizuho decreased their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, Zacks Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Eighteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $247.74.
View Our Latest Research Report on VEEV
Veeva Systems Price Performance
Veeva Systems (NYSE:VEEV – Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. During the same period last year, the firm posted $1.97 EPS. The business’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. On average, sell-side analysts anticipate that Veeva Systems will post 6.65 EPS for the current fiscal year.
Insider Activity
In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction 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 transaction, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its holdings 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 valued at $199,137,000 after purchasing an additional 90,703 shares during the period. Empire Life Investments Inc. increased its stake in Veeva Systems by 21.1% in the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock valued at $8,272,000 after purchasing an additional 6,453 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Veeva Systems by 217.2% in the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock worth $2,337,000 after purchasing an additional 7,169 shares during the period. Pictet Asset Management Holding SA raised its holdings in 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 worth $247,817,000 after purchasing an additional 137,965 shares during the period. Finally, KBC Group NV raised its holdings in Veeva Systems by 180.2% in the fourth quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock worth $44,900,000 after purchasing an additional 129,346 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.
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.
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