Veeva Systems (NYSE:VEEV – Free Report) had its price objective upped by Barclays from $360.00 to $375.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.
A number of other equities research analysts have also weighed in on the company. UBS Group boosted their price objective on Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Citigroup boosted their price target on Veeva Systems from $190.00 to $273.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. Mizuho upped their price objective on Veeva Systems from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Morgan Stanley upped their price objective on Veeva Systems from $215.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. Finally, Truist Financial raised their price objective on shares of Veeva Systems from $262.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Nineteen investment 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $293.21.
Check Out Our Latest Report on VEEV
Veeva Systems Trading Up 0.9%
VEEV opened at $313.04 on Wednesday. The company’s 50 day moving average is $283.97 and its 200-day moving average is $209.79. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $325.99. The company has a market cap of $50.68 billion, a P/E ratio of 50.14, a PEG ratio of 1.32 and a beta of 0.93.
Veeva Systems (NYSE:VEEV – Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm 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. On average, equities analysts forecast that Veeva Systems will post 6.70 EPS for the current year.
Insider Transactions at Veeva Systems
In related news, insider Thomas D. Schwenger sold 10,000 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $281.33, for a total value of $2,813,300.00. Following the transaction, the insider directly owned 19,449 shares in the company, valued at $5,471,587.17. This trade represents a 33.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jonathan Faddis sold 5,198 shares of the 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 transaction, the senior vice president owned 4,130 shares in the company, valued at approximately $1,237,843.60. This represents a 55.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 56,789 shares of company stock valued at $14,913,889. 10.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Veeva Systems by 7.0% in the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock valued at $727,513,000 after acquiring an additional 271,252 shares in the last quarter. Swedbank AB boosted 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 valued at $288,983,000 after purchasing an additional 498,971 shares during the period. Amundi grew its stake in Veeva Systems by 8.0% during the 1st quarter. Amundi now owns 992,977 shares of the technology company’s stock worth $174,426,000 after purchasing an additional 73,510 shares in the last quarter. Arrowstreet Capital Limited Partnership grew 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 worth $160,427,000 after purchasing an additional 611,868 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Veeva Systems by 2.7% during the 1st quarter. Royal Bank of Canada now owns 870,281 shares of the technology company’s stock worth $152,873,000 after purchasing an additional 23,117 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.
Veeva Systems Company Profile
Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.
The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.
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