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

by · The Markets Daily

Wall Street Zen upgraded shares of Veeva Systems (NYSE:VEEV – Free Report) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on VEEV. Canaccord Genuity Group boosted their target price on shares of Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 27th. Needham & Company LLC increased their target price 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. BTIG Research reiterated a “buy” rating and set a $340.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. TD Cowen lifted their price target on shares of Veeva Systems from $235.00 to $283.00 and gave the company a “buy” rating in a report on Monday, August 24th. Finally, Guggenheim boosted their price target on shares of Veeva Systems from $276.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $284.88.

Check Out Our Latest Stock Report on Veeva Systems

Veeva Systems Trading Up 0.5%

Shares of VEEV opened at $262.30 on Friday. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a 50 day simple moving average of $228.50 and a 200-day simple moving average of $190.94. The stock has a market cap of $42.47 billion, a PE ratio of 43.14, a PEG ratio of 1.12 and a beta of 0.97.

Veeva Systems (NYSE:VEEV – Get Free Report) last announced its quarterly earnings results 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 return on equity of 14.25% and a net margin of 29.34%.The business had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. During the same quarter in the previous year, the firm earned $1.99 EPS. Veeva Systems’s quarterly revenue 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. On average, sell-side analysts forecast that Veeva Systems will post 6.7 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems 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 $846,291.68. The trade was a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the transaction, the insider owned 19,449 shares in the company, valued at approximately $5,471,587.17. This trade represents a 33.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 46,750 shares of company stock worth $12,017,360 in the last 90 days. Company insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

A number of large investors have recently modified their holdings of VEEV. SHP Wealth Management acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $26,000. Compass Financial Management LLC acquired a new position in Veeva Systems during the 2nd quarter worth $27,000. Arlington Trust Co LLC bought a new position in Veeva Systems in the 2nd quarter valued at $29,000. Field & Main Bank bought a new position in Veeva Systems in the 2nd quarter valued at $29,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Veeva Systems in the 4th quarter valued at $30,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

About Veeva Systems

(Get Free Report)

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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