Veeva Systems (NYSE:VEEV) Hits New 12-Month High - Here's What Happened

Key Points

• Veeva Systems reached a new 52-week high, trading as high as $308.38 after closing at $295.85, giving the company a market capitalization of about $49.1 billion.
• Analyst sentiment remains positive, with 19 Buy ratings, eight Holds and one Sell; the consensus rating is “Moderate Buy” with an average price target of $284.88.
• Recent results exceeded expectations: quarterly EPS came in at $2.35 versus $2.23 expected, while revenue rose 17.6% year over year to $927.96 million. Insiders sold $13.4 million of shares over the past 90 days, while institutional investors own 88.2% of the stock.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) reached a new 52-week high on Tuesday. The company traded as high as $308.38 and last traded at $304.9830, with a volume of 182,412 shares trading hands. The stock had previously closed at $295.85.

Wall Street Analyst Weigh In

VEEV has been the subject of several recent research reports. Oppenheimer increased their price target on shares of Veeva Systems from $225.00 to $300.00 and gave the stock an "outperform" rating in a research report on Monday, August 17th. Truist Financial lifted their price objective on Veeva Systems from $262.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Weiss Ratings raised Veeva Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday. Canaccord Genuity Group upped their price objective on Veeva Systems from $220.00 to $260.00 and gave the company a "hold" rating in a research note on Thursday, August 27th. Finally, Needham & Company LLC increased their target price on Veeva Systems from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $284.88.

Veeva Systems Stock Performance

The company has a 50-day simple moving average of $262.80 and a 200-day simple moving average of $204.53. The stock has a market cap of $49.08 billion, a P/E ratio of 49.99, a P/E/G ratio of 1.26 and a beta of 0.93.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The company had revenue of $927.96 million for the quarter, compared to analysts' expectations of $905.38 million. During the same quarter in the prior year, the business 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. As a group, sell-side analysts expect that Veeva Systems Inc. will post 6.70 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were 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. The trade was a 18.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Rizzo sold 4,841 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the completion of the transaction, the executive vice president directly owned 7,665 shares of the company's stock, valued at approximately $2,119,449.15. This represents a 38.71% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 51,591 shares of company stock worth $13,355,945. 10.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company's stock worth $727,513,000 after acquiring an additional 271,252 shares during the period. Swedbank AB lifted its stake in shares of Veeva Systems by 43.5% in the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company's stock valued at $288,983,000 after purchasing an additional 498,971 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Veeva Systems by 43.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company's stock valued at $279,970,000 after purchasing an additional 483,720 shares during the period. Amundi lifted its stake in shares of Veeva Systems by 8.0% in the 1st quarter. Amundi now owns 992,977 shares of the technology company's stock valued at $174,426,000 after purchasing an additional 73,510 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Veeva Systems by 203.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company's stock worth $160,427,000 after purchasing an additional 611,868 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

About Veeva Systems

Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.

The company's product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.

Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.

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