Veeva Systems Inc. (NYSE:VEEV) Given Average Rating of “Moderate Buy” by Brokerages

Veeva Systems Inc. (NYSE:VEEV) has earned a consensus rating of “Moderate Buy” from the twenty-seven analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $250.9583.

A number of equities research analysts have recently issued reports on VEEV shares. BTIG Research reiterated a “buy” rating and issued a $340.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Robert W. Baird lifted their target price on Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Canaccord Genuity Group dropped their target price on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Barclays dropped their target price on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $171.28 on Monday. The stock has a market cap of $27.82 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Veeva Systems has a one year low of $148.05 and a one year high of $310.50. The business’s fifty day moving average price is $163.76 and its two-hundred day moving average price is $186.42.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $857.73 million. During the same period in the prior year, the firm posted $1.97 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. 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. As a group, equities research analysts predict that Veeva Systems will post 6.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 3,253 shares in the company, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors have recently made changes to their positions in VEEV. Sivia Capital Partners LLC grew its holdings in shares of Veeva Systems by 225.9% during the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after purchasing an additional 2,164 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of Veeva Systems by 44.5% during the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after purchasing an additional 1,806 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Veeva Systems by 34.6% during the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock valued at $2,543,000 after purchasing an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Veeva Systems by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock valued at $19,856,000 after purchasing an additional 1,452 shares during the last quarter. Finally, Diversify Wealth Management LLC grew its holdings in shares of Veeva Systems by 5.3% during the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock valued at $3,140,000 after purchasing an additional 575 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Company Profile

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.