Veeva Systems (NYSE:VEEV) Trading Up 2.8% - What's Next?

Key Points

• Veeva Systems shares rose 2.8% to approximately $268.30, although trading volume was 88% below the average session volume.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus from 28 analysts and an average price target of $284.88; several firms recently raised their targets to $310 or higher.
• Veeva exceeded quarterly expectations, reporting $2.35 in earnings per share versus the $2.23 consensus and $927.96 million in revenue, up 17.6% year over year. Institutional investors own 88.2% of the stock, while insiders have sold shares worth about $12 million over the past 90 days.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report)'s stock price shot up 2.8% during trading on Wednesday . The company traded as high as $271.52 and last traded at $268.2950. Approximately 299,983 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 2,400,332 shares. The stock had previously closed at $260.91.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Guggenheim upped their price objective on Veeva Systems from $276.00 to $310.00 and gave the company a "buy" rating in a research note on Thursday, August 27th. Morgan Stanley upped their price target on Veeva Systems from $215.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 27th. Evercore reiterated an "outperform" rating and issued a $185.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Needham & Company LLC upped their price objective on shares of Veeva Systems from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $340.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $284.88.

Veeva Systems Price Performance

The company's 50 day moving average is $238.53 and its 200 day moving average is $195.11. The stock has a market cap of $43.82 billion, a price-to-earnings ratio of 44.51, a PEG ratio of 1.11 and a beta of 0.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The firm's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.99 earnings per share. 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. Sell-side analysts predict that Veeva Systems Inc. will post 6.7 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 10,000 shares of the business's stock in a transaction on 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 completion of the transaction, the insider directly owned 19,449 shares of the company's stock, valued at $5,471,587.17. The trade was a 33.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the sale, the director directly owned 3,242 shares in the company, valued at approximately $846,291.68. The trade was a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 46,750 shares of company stock worth $12,017,360. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Several hedge funds have recently modified their holdings of VEEV. Sequoia Financial Advisors LLC raised its holdings in Veeva Systems by 8.6% during the second quarter. Sequoia Financial Advisors LLC now owns 28,344 shares of the technology company's stock worth $5,030,000 after purchasing an additional 2,246 shares in the last quarter. Tidal Investments LLC boosted its stake in Veeva Systems by 49.2% during the 2nd quarter. Tidal Investments LLC now owns 29,882 shares of the technology company's stock valued at $5,303,000 after purchasing an additional 9,859 shares in the last quarter. Van Hulzen Asset Management LLC bought a new stake in shares of Veeva Systems in the 2nd quarter worth $251,000. National Pension Service raised its stake in shares of Veeva Systems by 20.8% in the 2nd quarter. National Pension Service now owns 276,161 shares of the technology company's stock worth $49,010,000 after buying an additional 47,459 shares in the last quarter. Finally, RFG Advisory LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at $1,417,000. 88.20% of the stock is owned by institutional investors and hedge funds.

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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