KeyCorp Reaffirms Sector Weight Rating for Veeva Systems (NYSE:VEEV)

Veeva Systems (NYSE:VEEV)‘s stock had its “sector weight” rating reaffirmed by KeyCorp in a report issued on Friday, MarketBeat Ratings reports.

Several other research analysts have also recently weighed in on the company. Truist Financial boosted their price target on Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. Canaccord Genuity Group reissued a “buy” rating on shares of Veeva Systems in a research report on Tuesday, November 25th. Jefferies Financial Group restated a “buy” rating and set a $330.00 target price on shares of Veeva Systems in a research note on Monday, November 24th. Raymond James Financial reiterated an “outperform” rating and issued a $340.00 price target (up from $310.00) on shares of Veeva Systems in a research note on Thursday, August 28th. Finally, William Blair reissued an “outperform” rating on shares of Veeva Systems in a report on Friday, October 17th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.42.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $222.87 on Friday. The company has a 50-day simple moving average of $273.45 and a two-hundred day simple moving average of $278.69. The stock has a market capitalization of $36.63 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 1.66 and a beta of 1.05. Veeva Systems has a 52-week low of $201.54 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.09. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The company had revenue of $0.81 million during the quarter, compared to the consensus estimate of $792.37 million. During the same quarter last year, the firm earned $1.75 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. As a group, equities research analysts forecast that Veeva Systems will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the transaction, the insider owned 23,773 shares in the company, valued at $7,132,850.92. This trade represents a 12.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the sale, the insider directly owned 25,325 shares of the company’s stock, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ASR Vermogensbeheer N.V. grew its position in Veeva Systems by 64.2% during the second quarter. ASR Vermogensbeheer N.V. now owns 5,167 shares of the technology company’s stock valued at $1,488,000 after buying an additional 2,020 shares during the period. Stevens Capital Management LP purchased a new stake in shares of Veeva Systems during the 2nd quarter worth about $306,000. QRG Capital Management Inc. boosted its stake in shares of Veeva Systems by 15.7% during the 2nd quarter. QRG Capital Management Inc. now owns 12,771 shares of the technology company’s stock worth $3,678,000 after acquiring an additional 1,735 shares in the last quarter. Merit Financial Group LLC grew its position in shares of Veeva Systems by 12.5% during the 2nd quarter. Merit Financial Group LLC now owns 45,247 shares of the technology company’s stock valued at $13,030,000 after acquiring an additional 5,042 shares during the period. Finally, Penserra Capital Management LLC increased its stake in shares of Veeva Systems by 409.4% in the 2nd quarter. Penserra Capital Management LLC now owns 3,693 shares of the technology company’s stock valued at $1,062,000 after purchasing an additional 2,968 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.