Veeva Systems Inc. (NYSE:VEEV) Stock Has Consensus Price Target of $284.88

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given an average recommendation of “Moderate Buy” by the twenty-eight analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and nineteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $284.88.

VEEV has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Veeva Systems from $262.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. UBS Group raised their price objective on Veeva Systems from $190.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Canaccord Genuity Group lifted their price objective on Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 27th. TD Cowen raised their price objective on shares of Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $295.00 target price on shares of Veeva Systems in a research note on Thursday, August 27th.

Veeva Systems Stock Up 0.1%

NYSE VEEV opened at $283.80 on Wednesday. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The business has a 50 day moving average price of $256.03 and a two-hundred day moving average price of $201.54. The stock has a market cap of $45.95 billion, a PE ratio of 46.68, a P/E/G ratio of 1.21 and a beta of 0.93.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the firm 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 anticipate that Veeva Systems will post 6.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 10,000 shares of the business’s 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 owned 19,449 shares in the company, valued at $5,471,587.17. The trade was a 33.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Rizzo sold 4,841 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $276.51, for a total value of $1,338,584.91. Following the transaction, the executive vice president owned 7,665 shares of the company’s stock, valued at approximately $2,119,449.15. The trade was 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. Insiders have sold a total of 51,591 shares of company stock worth $13,355,945 over the last quarter. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently modified their holdings of VEEV. Norges Bank bought a new stake in shares of Veeva Systems during the fourth quarter valued at about $332,412,000. Fundsmith LLP acquired a new stake in shares of Veeva Systems in the 2nd quarter worth approximately $144,955,000. Arrowstreet Capital Limited Partnership lifted its stake 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 acquiring an additional 611,868 shares during the period. Swedbank AB boosted its holdings in shares of Veeva Systems by 43.5% in the first quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock valued at $288,983,000 after acquiring an additional 498,971 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of Veeva Systems by 43.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,593,795 shares of the technology company’s stock valued at $279,970,000 after acquiring an additional 483,720 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Company Profile

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.