Veeva Systems Inc. (VEEV) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts remain broadly positive: Twenty-eight analysts give Veeva Systems a consensus “Moderate Buy” rating, with 19 buys, eight holds and one sell. The average 12-month price target is $287.79.
• Recent results exceeded expectations: Veeva reported quarterly EPS of $2.35 versus the $2.23 consensus estimate, while revenue rose 17.6% year over year to $927.96 million.
• Shares are near their 52-week high: VEEV opened at $323.31, compared with a 52-week range of $148.05 to $325.99. Insiders have sold roughly $14.9 million of stock over the past three months, while institutional investors own 88.2% of shares.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-eight analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $287.79.

A number of equities research analysts have recently issued reports on the stock. UBS Group lifted their price target on shares of Veeva Systems from $190.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. Needham & Company LLC boosted their price target on Veeva Systems from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Mizuho upped their price target on Veeva Systems from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Morgan Stanley raised their price objective on Veeva Systems from $215.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th. Finally, Citigroup raised their price objective on Veeva Systems from $190.00 to $273.00 and gave the company a "neutral" rating in a research note on Friday, August 28th.

Insider Transactions at Veeva Systems

In other news, EVP Daniel J. Rizzo sold 4,841 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the transaction, the director directly owned 3,242 shares of the company's stock, valued at $846,291.68. This trade represents a 18.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,789 shares of company stock valued at $14,913,889 in the last three months. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veeva Systems

Large investors have recently added to or reduced their stakes in the business. Czech National Bank acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $7,584,000. Vulcan Value Partners LLC purchased a new position in shares of Veeva Systems during the 2nd quarter worth approximately $3,769,000. East Coast Asset Management LLC. purchased a new position in shares of Veeva Systems during the 1st quarter worth approximately $1,665,000. Westwind Capital acquired a new position in shares of Veeva Systems during the 3rd quarter worth approximately $1,684,000. Finally, Rockland Trust Co. raised its position in shares of Veeva Systems by 21.4% during the 2nd quarter. Rockland Trust Co. now owns 173,760 shares of the technology company's stock worth $30,837,000 after purchasing an additional 30,678 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Up 0.2%

Shares of VEEV opened at $323.31 on Friday. The company has a 50-day simple moving average of $277.66 and a 200-day simple moving average of $213.05. The company has a market capitalization of $52.35 billion, a PE ratio of 53.18, a P/E/G ratio of 1.38 and a beta of 0.93. Veeva Systems has a 52-week low of $148.05 and a 52-week high of $325.99.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $905.38 million. During the same quarter last year, the business earned $1.99 earnings per share. The business'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. On average, research analysts anticipate that Veeva Systems will post 6.70 EPS for the current year.

Veeva Systems Company Profile

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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