Veeva Systems Inc. (NYSE:VEEV – Get Free Report) SVP Jonathan Faddis sold 5,198 shares of the company’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $299.72, for a total value of $1,557,944.56. Following the completion of the sale, the senior vice president directly owned 4,130 shares in the company, valued at approximately $1,237,843.60. The trade was a 55.72% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.
Veeva Systems Trading Down 0.7%
Veeva Systems stock traded down $2.13 on Friday, hitting $310.90. 1,729,959 shares of the stock traded hands, compared to its average volume of 2,327,165. The firm has a market cap of $50.34 billion, a P/E ratio of 51.14, a price-to-earnings-growth ratio of 1.27 and a beta of 0.93. The business’s fifty day simple moving average is $268.19 and its 200 day simple moving average is $207.22. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $319.95.
Veeva Systems (NYSE:VEEV – Get Free Report) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.99 EPS. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. As a group, analysts predict that Veeva Systems Inc. will post 6.70 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Canaccord Genuity Group lifted their target price on shares of Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 27th. TD Cowen lifted their target price on shares of Veeva Systems from $235.00 to $283.00 and gave the company a “buy” rating in a report on Monday, August 24th. Oppenheimer reissued an “outperform” rating and issued a $325.00 price target on shares of Veeva Systems in a research report on Thursday. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $330.00 price target on shares of Veeva Systems in a research note on Tuesday, September 8th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.92.
Check Out Our Latest Analysis on VEEV
Hedge Funds Weigh In On Veeva Systems
A number of hedge funds have recently bought and sold shares of VEEV. Fundsmith LLP purchased a new stake in Veeva Systems during the 2nd quarter valued at about $144,955,000. Arrowstreet Capital Limited Partnership increased its stake in Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after purchasing an additional 611,868 shares in the last quarter. Swedbank AB raised its holdings in Veeva Systems by 43.5% in the first quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock worth $288,983,000 after buying an additional 498,971 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Veeva Systems by 43.6% in the first quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock worth $279,970,000 after buying an additional 483,720 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Veeva Systems by 757.5% in the first quarter. Pacer Advisors Inc. now owns 485,046 shares of the technology company’s stock worth $85,203,000 after buying an additional 428,478 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.
About Veeva Systems
Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.
The company’s product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.
Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.
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