Veeva Systems Inc. (NYSE:VEEV) Receives $284.46 Average Target Price from Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $284.4583.

VEEV has been the subject of a number of research reports. BMO Capital Markets upped their target price on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a research report on Thursday, August 27th. Oppenheimer lifted their price target on shares of Veeva Systems from $225.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, August 17th. UBS Group boosted their price target on shares of Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. TD Cowen increased their price objective 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, BTIG Research restated a “buy” rating and set a $340.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th.

Veeva Systems Trading Down 0.4%

NYSE:VEEV opened at $274.02 on Friday. The stock has a 50-day moving average price of $222.45 and a 200 day moving average price of $188.73. The stock has a market capitalization of $44.37 billion, a P/E ratio of 45.07, a P/E/G ratio of 1.17 and a beta of 0.97. Veeva Systems has a 12-month low of $148.05 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $1.99 EPS. The firm’s revenue 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 predict that Veeva Systems will post 6.7 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In related news, insider Thomas Schwenger sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 19,449 shares of the company’s stock, valued at approximately $5,471,587.17. This represents a 33.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Institutional Trading of Veeva Systems

Large investors have recently added to or reduced their stakes in the company. Sivia Capital Partners LLC increased its stake in Veeva Systems by 225.9% during the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock worth $899,000 after acquiring an additional 2,164 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Veeva Systems by 44.5% in the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock worth $1,689,000 after purchasing an additional 1,806 shares during the period. NewEdge Advisors LLC increased its position in shares of Veeva Systems by 34.6% during the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock valued at $2,543,000 after purchasing an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Veeva Systems by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock valued at $19,856,000 after buying an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC raised its holdings in Veeva Systems by 5.3% during the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock valued at $3,140,000 after buying an additional 575 shares during the period. Institutional investors own 88.20% of the company’s stock.

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.