Veeva Systems (NYSE:VEEV – Get Free Report) had its target price raised by equities researchers at Royal Bank Of Canada from $325.00 to $365.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 21.26% from the company’s previous close.
Several other equities research analysts have also commented on the stock. TD Cowen raised their price target on shares of Veeva Systems from $235.00 to $283.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Guggenheim boosted their price objective on Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Oppenheimer reissued an “outperform” rating and issued a $325.00 price objective (up from $300.00) on shares of Veeva Systems in a report on Thursday, October 15th. BNP Paribas Exane raised their target price on Veeva Systems from $285.00 to $300.00 in a research report on Thursday, August 27th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $330.00 target price (up from $320.00) on shares of Veeva Systems in a research note on Tuesday, September 8th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $304.29.
Read Our Latest Stock Report on VEEV
Veeva Systems Stock Performance
Shares of Veeva Systems stock traded down $9.10 during trading on Friday, hitting $301.00. 785,662 shares of the stock were exchanged, compared to its average volume of 2,265,102. Veeva Systems has a 12 month low of $148.05 and a 12 month high of $325.99. The stock’s fifty day moving average is $288.82 and its 200 day moving average is $211.51. The stock has a market cap of $48.73 billion, a PE ratio of 49.40, a P/E/G ratio of 1.33 and a beta of 0.89.
Veeva Systems (NYSE:VEEV – Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. Veeva Systems’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last 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. Sell-side analysts anticipate that Veeva Systems will post 6.70 EPS for the current fiscal year.
Insider Activity at Veeva Systems
In related news, EVP Daniel Rizzo sold 4,841 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the transaction, the executive vice president owned 7,665 shares in the company, valued at $2,119,449.15. This trade represents a 38.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jonathan Faddis sold 5,198 shares of the business’s stock in a transaction that occurred 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 56,789 shares of company stock valued at $14,913,889. Insiders own 10.60% of the company’s stock.
Hedge Funds Weigh In On Veeva Systems
Several hedge funds have recently modified their holdings of VEEV. Investment Research & Advisory Group Inc. boosted its stake in Veeva Systems by 0.4% during the third quarter. Investment Research & Advisory Group Inc. now owns 12,942 shares of the technology company’s stock valued at $3,699,000 after buying an additional 51 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Veeva Systems by 0.9% during the third quarter. Chicago Partners Investment Group LLC now owns 5,972 shares of the technology company’s stock worth $1,929,000 after acquiring an additional 55 shares during the period. Lodestone Wealth Management LLC grew its holdings in Veeva Systems by 68.3% during the third quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock worth $39,000 after acquiring an additional 56 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Veeva Systems by 1.2% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,664 shares of the technology company’s stock worth $1,331,000 after acquiring an additional 57 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in Veeva Systems by 4.9% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,212 shares of the technology company’s stock worth $346,000 after acquiring an additional 57 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.
About Veeva Systems
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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