Veeva Systems (NYSE:VEEV) Price Target Raised to $315.00

Veeva Systems (NYSE:VEEV) had its price target lifted by Canaccord Genuity Group from $260.00 to $315.00 in a research note released on Monday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada boosted their target price on Veeva Systems from $325.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Stifel Nicolaus set a $300.00 price target on Veeva Systems in a report on Thursday, August 27th. Robert W. Baird raised their price target on Veeva Systems from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Monday, October 26th. Barclays lifted their price target on Veeva Systems from $360.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Finally, Weiss Ratings upgraded shares of Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Nineteen 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $317.42.

Veeva Systems Stock Performance

Shares of VEEV opened at $304.94 on Monday. The stock has a market cap of $49.37 billion, a PE ratio of 49.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.89. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $325.99. The firm’s 50-day simple moving average is $290.75 and its two-hundred day simple moving average is $213.20.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same quarter last year, the firm earned $1.99 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. 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. Equities research analysts predict that Veeva Systems will post 6.70 EPS for the current year.

Insider Transactions at Veeva Systems

In related news, insider Thomas Schwenger sold 10,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the completion of the sale, the insider owned 19,449 shares in the company, valued at approximately $5,471,587.17. This represents a 33.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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. Also, EVP Daniel Rizzo sold 4,841 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $276.51, for a total value of $1,338,584.91. Following the completion of the transaction, the executive vice president directly owned 7,665 shares in the company, valued at approximately $2,119,449.15. This represents a 38.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 20,789 shares of company stock worth $5,905,609 in the last three months. 10.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently made changes to their positions in VEEV. Farmers & Merchants Investments Inc. boosted its holdings in shares of Veeva Systems by 181.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock worth $27,000 after buying an additional 60 shares during the last quarter. Burkett Financial Services LLC bought a new stake in Veeva Systems during the third quarter valued at approximately $27,000. Pension & Wealth Management Advisors Inc. purchased a new stake in Veeva Systems during the third quarter valued at approximately $38,000. Lodestone Wealth Management LLC increased 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 valued at $39,000 after buying an additional 56 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new stake in Veeva Systems during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc. develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations. The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.