Veeva Systems (NYSE:VEEV) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Veeva Systems to “buy” from “hold.” The broader analyst consensus is “Moderate Buy,” with 19 buy ratings, eight holds, one sell, and an average price target of $284.88.
• Veeva reported quarterly EPS of $2.35, beating estimates of $2.23, while revenue rose 17.6% year over year to $927.96 million, above expectations.
• Shares opened at $262.30, compared with a 52-week range of $148.05 to $310.50. Insiders sold 46,750 shares worth approximately $12.0 million over the past three months, while institutional investors own 88.2% of the stock.

Veeva Systems (NYSE:VEEV - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research analysts also recently commented on VEEV. Citigroup raised their price objective on Veeva Systems from $190.00 to $273.00 and gave the stock a "neutral" rating in a research note on Friday, August 28th. Jefferies Financial Group reiterated a "buy" rating and set a $295.00 price objective on shares of Veeva Systems in a research note on Thursday, August 27th. Guggenheim increased their target price on shares of Veeva Systems from $276.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Wells Fargo & Company reissued an "overweight" rating and issued a $330.00 target price on shares of Veeva Systems in a report on Tuesday. Finally, BNP Paribas Exane restated an "outperform" rating and set a $285.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average target price of $284.88.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $262.30 on Friday. The company's fifty day simple moving average is $228.50 and its 200-day simple moving average is $190.94. The stock has a market capitalization of $42.47 billion, a PE ratio of 43.14, a P/E/G ratio of 1.11 and a beta of 0.97. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50.

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 (EPS) 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 firm had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the previous year, the firm posted $1.99 EPS. The company's revenue for the quarter was up 17.6% compared to the same quarter last year. 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. As a group, research analysts anticipate that Veeva Systems will post 6.7 EPS for the current year.

Insider Transactions at Veeva Systems

In other news, insider Thomas Schwenger sold 10,000 shares of the business's stock in a transaction dated 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. The trade was a 33.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the company's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the transaction, the director directly owned 3,242 shares of the company's stock, valued at approximately $846,291.68. This trade represents a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 46,750 shares of company stock worth $12,017,360. Insiders own 10.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Williams Jones Wealth Management LLC. raised its position in shares of Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock valued at $2,806,000 after buying an additional 40 shares during the last quarter. Rafferty Asset Management LLC grew its stake in Veeva Systems by 0.7% during the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock valued at $1,982,000 after acquiring an additional 51 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in Veeva Systems by 8.1% during the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock valued at $214,000 after acquiring an additional 54 shares in the last quarter. Main Management ETF Advisors LLC grew its stake in Veeva Systems by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company's stock valued at $1,224,000 after acquiring an additional 56 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in Veeva Systems by 17.1% in the 4th quarter. Root Financial Partners LLC now owns 383 shares of the technology company's stock valued at $85,000 after acquiring an additional 56 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company's Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.

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