Veeva Systems (NYSE:VEEV) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Veeva Systems from a "hold" to a "strong-buy" in a research note issued Wednesday.
• Veeva beat quarterly expectations, reporting $2.06 EPS vs. $1.94 expected and $835.95M revenue (up 16% YoY), and set FY‑2027 guidance around $8.85 EPS.
• The board authorized a $2.0 billion share buyback, equal to roughly 5.5% of the company’s outstanding stock, signaling management confidence in the stock.

Veeva Systems (NYSE:VEEV - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

VEEV has been the topic of several other research reports. TD Cowen lowered their price target on Veeva Systems from $380.00 to $300.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Canaccord Genuity Group lowered their target price on shares of Veeva Systems from $280.00 to $235.00 and set a "hold" rating on the stock in a research note on Thursday, March 5th. Needham & Company LLC dropped their target price on shares of Veeva Systems from $355.00 to $270.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Oppenheimer decreased their price target on shares of Veeva Systems from $325.00 to $275.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Finally, Piper Sandler dropped their price objective on shares of Veeva Systems from $355.00 to $285.00 and set an "overweight" rating for the company in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued 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 has an average rating of "Moderate Buy" and a consensus target price of $278.70.

Veeva Systems Trading Up 0.1%

Veeva Systems stock opened at $167.46 on Wednesday. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50. The firm has a market capitalization of $27.35 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The firm's 50 day simple moving average is $178.20 and its 200 day simple moving average is $226.67.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The firm had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. During the same period last year, the firm earned $1.74 EPS. The business's quarterly revenue was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Research analysts forecast that Veeva Systems will post 4.35 earnings per share for the current year.

Veeva Systems announced that its board has initiated a stock repurchase plan on Monday, January 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the technology company to repurchase up to 5.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $153.50, for a total value of $115,125.00. Following the completion of the sale, the director owned 4,003 shares of the company's stock, valued at approximately $614,460.50. The trade was a 15.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.30% of the company's stock.

Hedge Funds Weigh In On Veeva Systems

A number of large investors have recently bought and sold shares of VEEV. Vanguard Group Inc. grew its holdings in shares of Veeva Systems by 3.1% in the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company's stock worth $4,596,522,000 after purchasing an additional 457,806 shares during the last quarter. Alliancebernstein L.P. boosted its position in Veeva Systems by 4.1% during the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company's stock valued at $1,770,071,000 after buying an additional 235,983 shares during the period. Principal Financial Group Inc. boosted its position in Veeva Systems by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 3,870,293 shares of the technology company's stock valued at $863,978,000 after buying an additional 23,416 shares during the period. State Street Corp grew its holdings in Veeva Systems by 2.4% in the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company's stock worth $801,267,000 after acquiring an additional 85,695 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Veeva Systems by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company's stock valued at $1,035,622,000 after acquiring an additional 159,984 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

Veeva Systems NYSE: VEEV is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva's product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.

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